Clarivate (NYSE:CLVT) Announces Quarterly Earnings Results

Clarivate (NYSE:CLVT) issued its quarterly earnings results on Wednesday. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19, Briefing.com reports. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.99%. The business had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same period last year, the business earned $0.18 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis.

Clarivate Price Performance

NYSE:CLVT traded down $0.11 during mid-day trading on Friday, reaching $4.57. 7,631,017 shares of the company’s stock traded hands, compared to its average volume of 3,869,349. Clarivate has a 12-month low of $4.55 and a 12-month high of $9.60. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The company has a 50 day moving average price of $6.56 and a 200-day moving average price of $6.28.

Insiders Place Their Bets

In other news, insider Bar Veinstein sold 120,000 shares of the business’s 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 value 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. 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 available at this link. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred on Friday, August 30th. The shares were 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 in the company, valued at approximately $160,251.75. 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 sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CLVT has been the subject of several recent research reports. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Royal Bank of Canada dropped their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, Barclays decreased their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday. Two 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. Based on data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and a consensus price target of $7.25.

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.