Clarivate Plc (NYSE:CLVT) Receives $7.10 Average Price Target from Brokerages

Shares of Clarivate Plc (NYSE:CLVT) have been given a consensus recommendation of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.10.

A number of research firms have weighed in on CLVT. Barclays lowered 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. Royal Bank of Canada reduced their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th.

Clarivate Stock Up 0.6 %

Shares of NYSE:CLVT opened at $5.12 on Tuesday. The firm has a fifty day moving average price of $5.51 and a two-hundred day moving average price of $6.02. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -2.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate has a one year low of $4.25 and a one year high of $9.60.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting 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 business had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same period in the previous year, the business earned $0.18 earnings per share. The firm’s revenue was down 3.9% on a year-over-year basis. Analysts anticipate that Clarivate will post 0.63 EPS for the current fiscal year.

Clarivate declared that its board has approved a share buyback plan on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis acquired 1,500,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now owns 1,500,000 shares in the company, valued at $7,665,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

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

Clarivate Company Profile

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.