Clarivate (NYSE:CLVT) Shares Gap Up After Insider Buying Activity

Clarivate Plc (NYSE:CLVT)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $5.25, but opened at $5.65. Clarivate shares last traded at $5.70, with a volume of 452,552 shares trading hands.

Specifically, Director Michael J. Angelakis bought 765,000 shares of Clarivate 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 acquisition, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael J. Angelakis bought 1,500,000 shares of Clarivate stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays reduced their target price 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. Finally, Royal Bank of Canada reduced their target price 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. Two equities 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Performance

The stock’s 50 day moving average price is $6.19 and its 200 day moving average price is $6.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Baupost Group LLC MA grew its position in Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after buying an additional 8,331,233 shares during the period. Dimensional Fund Advisors LP boosted its position in Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in 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 purchasing an additional 2,332,388 shares during the period. Raymond James & Associates grew its stake in 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. Finally, Geode Capital Management LLC grew its stake in Clarivate by 8.6% during 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. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.