Clarivate (NYSE:CLVT) Shares Gap Up After Insider Buying Activity

Shares of Clarivate Plc (NYSE:CLVT) gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $5.25, but opened at $5.65. Clarivate shares last traded at $5.70, with a volume of 452,552 shares changing hands.

Specifically, Director Michael J. Angelakis acquired 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were bought 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 owns 3,465,000 shares of the company’s stock, valued at $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis acquired 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the acquisition, the director now owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This represents a ? increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

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

Clarivate Stock Down 2.5 %

The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -2.80 and a beta of 1.18. 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 firm has a fifty day simple moving average of $6.17 and a 200-day simple moving average of $6.11.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Baupost Group LLC MA boosted its stake in shares of Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Clarivate by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after purchasing an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after buying an additional 2,332,388 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Clarivate by 37.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares in the last quarter. Finally, Clearline Capital LP grew its holdings in shares of Clarivate by 141.2% in the second quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock worth $11,883,000 after purchasing an additional 1,222,646 shares during the last quarter. 85.72% of the stock is currently 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.