Clarivate (NYSE:CLVT) Cut to “Market Perform” at William Blair

William Blair lowered shares of Clarivate (NYSE:CLVT) from an outperform rating to a market perform rating in a research note released on Wednesday, MarketBeat Ratings reports.

A number of other research analysts have also issued reports on CLVT. Royal Bank of Canada lowered their target price on shares of 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 decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two investment 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 MarketBeat.com, Clarivate has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Down 2.5 %

Clarivate stock opened at $4.57 on Wednesday. The company has a market capitalization of $3.31 billion, a P/E ratio of -2.39 and a beta of 1.18. The firm’s fifty day simple moving average is $6.56 and its 200-day simple moving average is $6.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate has a 1-year low of $4.55 and a 1-year high of $9.60.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (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 business had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same period last year, the business posted $0.16 EPS. Clarivate’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Clarivate will post 0.64 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Clarivate

Institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Clarivate in the third quarter worth about $101,000. OneDigital Investment Advisors LLC raised its stake in shares of Clarivate by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after acquiring an additional 2,865 shares during the last quarter. KBC Group NV raised its stake in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after acquiring an additional 2,549 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Clarivate by 21.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock worth $254,000 after acquiring an additional 6,284 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Clarivate in the third quarter worth about $142,000. 85.72% of the stock is owned by 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.