Clarivate (NYSE:CLVT) Sees Strong Trading Volume – Should You Buy?

Shares of Clarivate Plc (NYSE:CLVT) saw an uptick in trading volume on Thursday . 4,348,368 shares traded hands during trading, a decline of 4% from the previous session’s volume of 4,549,830 shares.The stock last traded at $5.76 and had previously closed at $5.75.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CLVT. Royal Bank of Canada lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Barclays decreased their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $4.05 billion, a P/E ratio of -2.87 and a beta of 1.12. The stock’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $6.08.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $622.20 million during 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 firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. As a group, research analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the transaction, the director now owns 1,500,000 shares in the company, valued at $7,665,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

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

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.