Clarivate (NYSE:CLVT) Sets New 52-Week Low – Time to Sell?

Clarivate Plc (NYSE:CLVT)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $4.89 and last traded at $5.29, with a volume of 236777 shares traded. The stock had previously closed at $6.59.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada lowered their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays lowered their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday. 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.58.

Clarivate Stock Performance

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $3.47 billion, a P/E ratio of -2.59 and a beta of 1.18. The firm has a 50 day moving average price of $6.68 and a 200-day moving average price of $6.32.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same quarter last year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Clarivate Plc will post 0.64 EPS for the current year.

Insider Activity at Clarivate

In other news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,646 shares of company stock worth $1,379,111. 23.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLVT. Nisa Investment Advisors LLC acquired a new position in shares of Clarivate in the second quarter valued at $26,000. Evermay Wealth Management LLC acquired a new stake in Clarivate during the first quarter worth $31,000. Truist Financial Corp bought a new stake in Clarivate in the 2nd quarter valued at $63,000. KBC Group NV raised its stake in shares of Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares in the last quarter. Finally, Forum Financial Management LP bought a new position in shares of Clarivate during the 2nd quarter worth about $75,000. 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.