Clarivate (NYSE:CLVT) Director Acquires $4,861,800.00 in Stock

Clarivate PLC (NYSE:CLVT) Director Andrew Miles Snyder bought 1,460,000 shares of the stock in a transaction on Friday, October 31st. The shares were acquired at an average cost of $3.33 per share, for a total transaction of $4,861,800.00. Following the purchase, the director owned 2,247,510 shares in the company, valued at $7,484,208.30. The trade was a 185.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clarivate Price Performance

CLVT traded up $0.15 on Monday, hitting $3.55. 6,074,979 shares of the company’s stock were exchanged, compared to its average volume of 5,183,842. Clarivate PLC has a fifty-two week low of $3.04 and a fifty-two week high of $6.70. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm has a 50-day moving average price of $3.93 and a 200-day moving average price of $4.09. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -6.22 and a beta of 1.43.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The company had revenue of $623.10 million for the quarter, compared to analysts’ expectations of $570.35 million. Clarivate had a negative net margin of 15.83% and a positive return on equity of 8.55%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, equities analysts anticipate that Clarivate PLC will post 0.63 earnings per share for the current year.

Institutional Trading of Clarivate

A number of institutional investors and hedge funds have recently bought and sold shares of CLVT. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Clarivate by 555.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 30,291 shares of the company’s stock worth $116,000 after buying an additional 25,672 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in shares of Clarivate during the third quarter worth approximately $67,000. Campbell & CO Investment Adviser LLC increased its stake in shares of Clarivate by 5.0% during the third quarter. Campbell & CO Investment Adviser LLC now owns 123,375 shares of the company’s stock worth $473,000 after buying an additional 5,903 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of Clarivate by 10.8% during the third quarter. Iridian Asset Management LLC CT now owns 1,002,958 shares of the company’s stock worth $3,841,000 after buying an additional 97,882 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Clarivate during the third quarter worth approximately $172,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wolfe Research assumed coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarivate in a research report on Tuesday, October 14th. Jefferies Financial Group started coverage on shares of Clarivate in a research report on Friday, July 18th. They set a “hold” rating and a $4.50 price target on the stock. Finally, The Goldman Sachs Group set a $4.20 price target on shares of Clarivate in a research report on Thursday. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $4.68.

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.