Clarivate (NYSE:CLVT) Sets New 1-Year Low – What’s Next?

Clarivate PLC (NYSE:CLVT)’s share price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $1.47 and last traded at $1.4650, with a volume of 5159 shares traded. The stock had previously closed at $1.48.

Analyst Ratings Changes

Several equities analysts have weighed in on CLVT shares. The Goldman Sachs Group decreased their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus cut their target price on Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Citigroup reduced their target price on Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Barclays decreased their price target on Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $3.02.

Clarivate Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $937.10 million, a price-to-earnings ratio of -2.82 and a beta of 1.40. The stock’s fifty day simple moving average is $1.91 and its 200-day simple moving average is $2.23.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $587.30 million during the quarter, compared to the consensus estimate of $589.73 million. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Analysts predict that Clarivate PLC will post 0.67 EPS for the current year.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Andrew Snyder sold 2,489,618 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the sale, the director owned 3,856,597 shares in the company, valued at $7,481,798.18. This represents a 39.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Cornick purchased 650,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $1.86 per share, for a total transaction of $1,209,000.00. Following the acquisition, the director owned 1,750,000 shares in the company, valued at $3,255,000. This trade represents a 59.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 22.88% of the company’s stock.

Institutional Trading of Clarivate

Hedge funds have recently added to or reduced their stakes in the company. Personal CFO Solutions LLC purchased a new position in Clarivate in the first quarter worth approximately $30,000. FreeGulliver LLC purchased a new stake in shares of Clarivate in the 1st quarter valued at approximately $30,000. Principal Financial Group Inc. purchased a new stake in shares of Clarivate in the 1st quarter valued at approximately $32,000. Parallel Advisors LLC raised its holdings in shares of Clarivate by 94.2% in the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Clarivate in the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) is a global information services and analytics company that provides data, software and research tools to organizations in academia, government, life sciences, intellectual property and other knowledge-intensive industries.

Its products and services include Web of Science research and citation databases, Derwent Innovation and other intellectual property solutions, life sciences analytics, and workflow and library-management platforms. Through its ProQuest and Ex Libris offerings, Clarivate also supports academic institutions with research content, library systems, discovery tools and digital resources.

Clarivate serves customers internationally, including universities, research organizations, corporations, publishers, government agencies and patent professionals.