Bar Veinstein Sells 120,000 Shares of Clarivate Plc (NYSE:CLVT) Stock

Clarivate Plc (NYSE:CLVT) insider Bar Veinstein sold 120,000 shares of the stock in a transaction that occurred on 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 $6,836,081. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Clarivate Price Performance

Shares of CLVT opened at $6.84 on Wednesday. The company has a market capitalization of $4.57 billion, a P/E ratio of -4.12, a P/E/G ratio of 3.24 and a beta of 1.17. The business’s 50-day moving average is $6.50 and its two-hundred day moving average is $6.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. Clarivate Plc has a fifty-two week low of $4.97 and a fifty-two week high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same period last year, the business earned $0.16 earnings per share. Clarivate’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts predict that Clarivate Plc will post 0.64 earnings per share for the current year.

Institutional Trading of Clarivate

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate during the 2nd quarter worth about $26,000. Evermay Wealth Management LLC acquired a new stake in Clarivate in the first quarter valued at approximately $31,000. Truist Financial Corp purchased a new stake in shares of Clarivate in the second quarter valued at approximately $63,000. Forum Financial Management LP acquired a new position in shares of Clarivate during the 2nd quarter worth approximately $75,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Clarivate during the 1st quarter valued at approximately $76,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reduced 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Clarivate presently has an average rating of “Hold” and a consensus target price of $7.75.

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.