Clarivate (NYSE:CLVT) Price Target Cut to $4.00 by Analysts at Barclays

Clarivate (NYSE:CLVT) had its target price cut by Barclays from $5.00 to $4.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also recently commented on CLVT. Royal Bank of Canada dropped their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.25.

Clarivate Price Performance

Shares of NYSE:CLVT opened at $4.57 on Thursday. Clarivate has a 12 month low of $4.55 and a 12 month high of $9.60. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -2.30 and a beta of 1.18. The stock’s 50 day moving average price is $6.56 and its 200 day moving average price is $6.27. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.99% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts anticipate that Clarivate will post 0.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Clarivate

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were 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 $160,251.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now directly owns 916,583 shares in the company, valued at approximately $6,416,081. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,646 shares of company stock valued at $1,379,111. Corporate insiders own 22.77% of the company’s stock.

Institutional Trading of Clarivate

Large investors have recently added to or reduced their stakes in the company. Evermay Wealth Management LLC acquired a new stake in Clarivate during the 1st quarter valued at $31,000. Nisa Investment Advisors LLC purchased a new position in shares of Clarivate during the 2nd quarter valued at $26,000. KBC Group NV grew its holdings in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after acquiring an additional 2,549 shares in the last quarter. Truist Financial Corp purchased a new position in shares of Clarivate during the 2nd quarter valued at $63,000. Finally, Forum Financial Management LP purchased a new position in shares of Clarivate during the 2nd quarter valued at $75,000. 85.72% of the stock is owned by institutional investors and hedge funds.

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.