Clarivate Plc (NYSE:CLVT) Director Buys $3,970,350.00 in Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis bought 765,000 shares of Clarivate stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the purchase, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Clarivate Price Performance

Shares of Clarivate stock opened at $5.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $6.19 and its two-hundred day moving average is $6.12. Clarivate Plc has a 1 year low of $4.25 and a 1 year high of $9.60.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The firm 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%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.18 earnings per share. As a group, sell-side analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC boosted its holdings in shares of Clarivate by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after buying an additional 5,945 shares in the last quarter. Virtu Financial LLC purchased a new stake in Clarivate during the third quarter valued at approximately $236,000. Geode Capital Management LLC boosted its stake in Clarivate by 8.6% in the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after acquiring an additional 571,289 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Clarivate in the third quarter worth $1,072,000. Finally, XTX Topco Ltd increased its position in shares of Clarivate by 22.7% during the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock worth $381,000 after purchasing an additional 9,934 shares in the last quarter. 85.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CLVT. Barclays reduced their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada cut their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.