Clarivate (NYSE:CLVT) Cut to “Market Perform” at William Blair

William Blair downgraded shares of Clarivate (NYSE:CLVT) from an outperform rating to a market perform rating in a report issued on Wednesday, Marketbeat reports.

CLVT has been the subject of a number of other research reports. Royal Bank of Canada lowered their price target on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Barclays dropped their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Clarivate has an average rating of “Hold” and a consensus price target of $7.42.

Clarivate Trading Down 1.7 %

Shares of CLVT stock traded down $0.08 on Wednesday, reaching $4.72. 9,128,321 shares of the company’s stock were exchanged, compared to its average volume of 4,242,631. The company’s fifty day simple moving average is $6.64 and its 200 day simple moving average is $6.31. The stock has a market capitalization of $3.42 billion, a PE ratio of -2.51 and a beta of 1.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate has a 52 week low of $4.57 and a 52 week high of $9.60.

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

Insider Buying and Selling at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the company’s 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 completion of the sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of Clarivate 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 transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. The trade was 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 at the SEC website. Also, insider Bar Veinstein sold 120,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clarivate

Several institutional investors and hedge funds have recently bought and sold shares of CLVT. Baupost Group LLC MA lifted its holdings in shares of Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares during the last quarter. Impactive Capital LP raised its stake in Clarivate by 0.3% in the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after buying an additional 109,247 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after acquiring an additional 2,332,388 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after acquiring an additional 1,157,976 shares in 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.