Clarivate Plc (NYSE:CLVT) Receives $7.10 Consensus PT from Analysts

Clarivate Plc (NYSE:CLVT) has been assigned an average recommendation of “Hold” from the six research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.10.

CLVT has been the subject of several recent analyst reports. Barclays cut 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 cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada decreased 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.

Clarivate Trading Up 0.1 %

CLVT stock opened at $5.10 on Friday. Clarivate has a 52-week low of $4.25 and a 52-week high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm has a market cap of $3.62 billion, a P/E ratio of -2.56 and a beta of 1.14. The company’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $5.98.

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, hitting analysts’ consensus estimates of $0.19. The company had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. Clarivate’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. As a group, equities analysts forecast that Clarivate will post 0.63 EPS for the current fiscal year.

Clarivate announced that its board has initiated a share repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Clarivate

In related news, Director Michael J. Angelakis purchased 765,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the acquisition, the director now directly owns 3,465,000 shares in the company, 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 can be accessed through the SEC website. Company insiders own 23.14% of the company’s stock.

Institutional Trading of Clarivate

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after buying an additional 2,409,470 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Clarivate during the second quarter worth approximately $3,346,000. XTX Topco Ltd acquired a new stake in shares of Clarivate during the second quarter worth $249,000. MQS Management LLC purchased a new position in Clarivate in the 2nd quarter valued at $91,000. Finally, Baupost Group LLC MA increased its stake in Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after buying an additional 8,331,233 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.