Clarivate Plc (NYSE:CLVT) Director Acquires $3,970,350.00 in Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis purchased 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were acquired at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the acquisition, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Clarivate Trading Up 2.1 %

Shares of Clarivate stock opened at $5.25 on Monday. The company’s fifty day moving average is $6.19 and its two-hundred day moving average is $6.12. Clarivate Plc has a 1 year low of $4.25 and a 1 year high of $9.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $3.73 billion, a P/E ratio of -2.64 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its quarterly 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 positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Clarivate

Several institutional investors have recently bought and sold shares of CLVT. SkyView Investment Advisors LLC lifted its position in Clarivate by 3.8% in the third quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after purchasing an additional 5,945 shares during the period. Virtu Financial LLC purchased a new stake in shares of Clarivate during the 3rd quarter worth $236,000. Geode Capital Management LLC grew its stake in shares of Clarivate by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after purchasing an additional 571,289 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Clarivate in the 3rd quarter valued at about $1,072,000. Finally, XTX Topco Ltd lifted its stake in shares of Clarivate by 22.7% in the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock valued at $381,000 after purchasing an additional 9,934 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

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.