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

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis purchased 765,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the transaction, the director now owns 3,465,000 shares in the company, valued at approximately $17,983,350. The trade was a 28.33 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Clarivate Trading Up 2.0 %

Shares of Clarivate stock traded up $0.11 during trading on Friday, reaching $5.25. The company’s stock had a trading volume of 5,304,372 shares, compared to its average volume of 4,508,156. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -2.58 and a beta of 1.18. The firm’s 50-day moving average is $6.21 and its two-hundred day moving average is $6.14. Clarivate Plc 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.

Clarivate (NYSE:CLVT) last announced 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 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 period last year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Clarivate Plc will post 0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

CLVT has been the subject of several research analyst reports. Barclays dropped their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada dropped their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. 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. Based on data from MarketBeat, Clarivate has an average rating of “Hold” and a consensus target price of $7.25.

Institutional Trading of Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baupost Group LLC MA increased its stake in shares of Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares during the period. Impactive Capital LP grew its holdings in Clarivate by 0.3% in the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock worth $281,502,000 after acquiring an additional 109,247 shares during the last quarter. Dimensional Fund Advisors LP increased its position 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 acquiring an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC raised its stake in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after acquiring an additional 2,332,388 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after purchasing an additional 1,157,976 shares during the period. Institutional investors 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.