Clarivate PLC (NYSE:CLVT) Stock Rated “Reduce” by Sell-Side Analysts

Shares of Clarivate PLC (NYSE:CLVT) have been assigned a consensus rating of “Reduce” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.02.

Several brokerages have recently weighed in on CLVT. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Stifel Nicolaus dropped their price objective on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a report on Monday, September 21st. Barclays cut their price objective on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Thursday, July 30th. Finally, Citigroup reduced their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, July 30th.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Andrew Snyder sold 2,489,618 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the sale, the director owned 3,856,597 shares of the company’s stock, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Cornick purchased 250,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $1.85 per share, for a total transaction of $462,500.00. Following the completion of the acquisition, the director directly owned 2,000,000 shares in the company, valued at approximately $3,700,000. This trade represents a 14.29% increase in their position. The SEC filing for this purchase provides additional information. 22.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clarivate

Institutional investors have recently added to or reduced their stakes in the stock. Abel Hall LLC boosted its stake in Clarivate by 12.4% in the first quarter. Abel Hall LLC now owns 54,302 shares of the company’s stock valued at $137,000 after acquiring an additional 5,972 shares in the last quarter. Parallel Advisors LLC grew its holdings in Clarivate by 94.2% in the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock worth $35,000 after purchasing an additional 6,687 shares during the last quarter. Royal Bank of Canada increased its position in shares of Clarivate by 44.8% during the first quarter. Royal Bank of Canada now owns 32,818 shares of the company’s stock worth $83,000 after purchasing an additional 10,149 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Clarivate by 12.3% during the second quarter. Ancora Advisors LLC now owns 100,000 shares of the company’s stock worth $216,000 after purchasing an additional 10,970 shares in the last quarter. Finally, Personal CFO Solutions LLC acquired a new position in shares of Clarivate during the first quarter worth $30,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Down 0.3%

NYSE:CLVT opened at $1.60 on Tuesday. Clarivate has a 1-year low of $1.42 and a 1-year high of $3.87. The company has a 50-day moving average of $1.87 and a 200 day moving average of $2.20. The firm has a market cap of $1.03 billion, a PE ratio of -3.09 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85.

Clarivate (NYSE:CLVT) last issued its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $587.30 million for the quarter, compared to analysts’ expectations of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 EPS. As a group, research analysts anticipate that Clarivate will post 0.67 EPS for the current fiscal year.

About Clarivate

Clarivate Plc (NYSE:CLVT) is a global information services and analytics company that provides data, software and research tools to organizations in academia, government, life sciences, intellectual property and other knowledge-intensive industries.

Its products and services include Web of Science research and citation databases, Derwent Innovation and other intellectual property solutions, life sciences analytics, and workflow and library-management platforms. Through its ProQuest and Ex Libris offerings, Clarivate also supports academic institutions with research content, library systems, discovery tools and digital resources.

Clarivate serves customers internationally, including universities, research organizations, corporations, publishers, government agencies and patent professionals.