Clarivate (NYSE:CLVT) Shares Gap Up – Should You Buy?

Clarivate Plc (NYSE:CLVT)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $5.11, but opened at $5.41. Clarivate shares last traded at $5.46, with a volume of 681,935 shares traded.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, Barclays lowered their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and an average price target of $7.10.

Clarivate Stock Performance

The stock has a market capitalization of $3.90 billion, a PE ratio of -2.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The business’s fifty day moving average price is $5.83 and its 200-day moving average price is $6.07.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. Clarivate’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. As a group, equities research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares of the company’s stock, valued at $17,983,350. The trade was a 28.33 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the transaction, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Clarivate in the second quarter worth approximately $2,251,000. Cerity Partners LLC grew its holdings in shares of Clarivate by 82.5% in the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after purchasing an additional 91,384 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Clarivate by 112.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock worth $7,387,000 after purchasing an additional 551,838 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Clarivate by 19.0% in the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after purchasing an additional 1,157,976 shares during the last quarter. Finally, Baupost Group LLC MA grew its holdings in shares of Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after purchasing an additional 8,331,233 shares during the last quarter. 85.72% of the stock is 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.