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

Clarivate (NYSE:CLVT) had its price target reduced by equities research analysts at Barclays from $5.00 to $4.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target would suggest a potential downside of 16.67% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CLVT. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Royal Bank of Canada reduced their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.42.

Clarivate Trading Down 27.2 %

NYSE:CLVT opened at $4.80 on Thursday. 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 has a 1 year low of $4.57 and a 1 year high of $9.60. The company has a market cap of $3.48 billion, a P/E ratio of -2.51 and a beta of 1.18. The stock’s fifty day moving average price is $6.64 and its two-hundred day moving average price is $6.31.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $651.94 million. During the same quarter last year, the business posted $0.16 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, analysts expect that Clarivate will post 0.64 EPS for the current year.

Insider Activity

In related news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, valued at $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 three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by insiders.

Institutional Trading of Clarivate

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC purchased a new position in shares of Clarivate during the third quarter valued at approximately $101,000. OneDigital Investment Advisors LLC lifted its holdings in shares of Clarivate by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after purchasing an additional 2,865 shares during the last quarter. KBC Group NV lifted its holdings in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Clarivate by 21.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock valued at $254,000 after purchasing an additional 6,284 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Clarivate during the third quarter valued at approximately $142,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

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.