Clarivate (NYSE:CLVT) Reaches New 12-Month Low – Here’s Why

Shares of Clarivate Plc (NYSE:CLVT) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.43 and last traded at $4.44, with a volume of 945964 shares traded. The stock had previously closed at $4.50.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CLVT shares. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays cut their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada dropped their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -2.23 and a beta of 1.18. The stock’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $6.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last issued its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The business had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Insider Activity at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 42.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock worth $1,379,111 over the last 90 days. Company insiders own 22.77% of the company’s stock.

Institutional Trading of Clarivate

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Clarivate during the 2nd quarter worth $1,410,000. Capital World Investors acquired a new position in shares of Clarivate in the first quarter worth about $30,104,000. Boston Partners grew its stake in Clarivate by 76.3% during the 1st quarter. Boston Partners now owns 557,496 shares of the company’s stock valued at $4,140,000 after purchasing an additional 241,292 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Clarivate during the 2nd quarter worth approximately $2,251,000. Finally, Raymond James & Associates raised its stake in shares of Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after purchasing an additional 1,157,976 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

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.