Clarivate (NYSE:CLVT) Stock Rating Lowered by William Blair

Clarivate (NYSE:CLVT) was downgraded by research analysts at William Blair from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, Briefing.com reports.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada cut their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Barclays cut their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and an average price target of $7.58.

Clarivate Stock Performance

Shares of NYSE:CLVT opened at $6.59 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50 day moving average price is $6.68 and its 200-day moving average price is $6.32. The firm has a market capitalization of $4.77 billion, a PE ratio of -3.45 and a beta of 1.18. Clarivate has a 1 year low of $4.97 and a 1 year high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that Clarivate will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Andrew Miles Snyder purchased 28,938 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $5.49 per share, with a total value of $158,869.62. Following the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andrew Miles Snyder acquired 28,938 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $5.49 per share, with a total value of $158,869.62. Following the transaction, the director now owns 288,334 shares in the company, valued at approximately $1,582,953.66. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of Clarivate 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 sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock valued at $1,379,111 in the last 90 days. Company insiders own 23.14% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several hedge funds and other institutional investors have recently bought and sold shares of CLVT. Baupost Group LLC MA raised its stake in Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after acquiring an additional 8,331,233 shares in the last quarter. Capital World Investors acquired a new position in Clarivate in the first quarter valued at $30,104,000. Dimensional Fund Advisors LP increased its stake in 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 purchasing an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in Clarivate by 31.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after purchasing an additional 2,332,388 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in Clarivate by 37.5% in the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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.