Clarivate (NYSE:CLVT) Director Kenneth Cornick Buys 100,000 Shares of Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $3.45 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the director directly owned 1,100,000 shares in the company, valued at $3,795,000. This represents a 10.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Clarivate Stock Performance

Shares of CLVT traded down $0.03 during midday trading on Friday, reaching $3.48. 528,776 shares of the stock were exchanged, compared to its average volume of 5,144,458. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $5.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of -6.10 and a beta of 1.43. The business’s 50-day moving average price is $3.77 and its 200 day moving average price is $4.09.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $623.10 million for the quarter, compared to analyst estimates of $570.35 million. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, sell-side analysts expect that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Institutional Trading of Clarivate

Institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas acquired a new stake in shares of Clarivate during the 1st quarter valued at approximately $184,000. Bank of New York Mellon Corp increased its position in shares of Clarivate by 3.8% in the first quarter. Bank of New York Mellon Corp now owns 2,429,086 shares of the company’s stock valued at $9,546,000 after buying an additional 88,670 shares in the last quarter. MQS Management LLC acquired a new position in shares of Clarivate during the 1st quarter worth $44,000. AustralianSuper Pty Ltd purchased a new stake in shares of Clarivate in the 1st quarter worth about $39,593,000. Finally, IFP Advisors Inc grew its stake in Clarivate by 91.6% in the 1st quarter. IFP Advisors Inc now owns 39,379 shares of the company’s stock valued at $156,000 after acquiring an additional 18,824 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CLVT shares. Wolfe Research initiated coverage on shares of Clarivate in a report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. The Goldman Sachs Group set a $4.20 price objective on Clarivate in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group assumed coverage on Clarivate in a research note on Friday, July 18th. They set a “hold” rating and a $4.50 price target for the company. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $4.90.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.