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

Clarivate Plc (NYSE:CLVT) gapped up before the market opened 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 changing hands.

Specifically, Director Michael J. Angelakis acquired 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 completion of the purchase, the director now owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Angelakis acquired 1,500,000 shares of Clarivate stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the purchase, the director now owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLVT. Barclays cut 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. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat, Clarivate presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Up 8.6 %

The business’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 announced its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. The business 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%. Clarivate’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, research analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Clarivate

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. raised its position in shares of Clarivate by 391.8% in the 1st quarter. Sei Investments Co. now owns 72,571 shares of the company’s stock valued at $539,000 after buying an additional 57,815 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Clarivate by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,446 shares of the company’s stock valued at $1,839,000 after buying an additional 13,103 shares in the last quarter. SkyView Investment Advisors LLC raised its position in shares of Clarivate by 3.8% in the 1st quarter. SkyView Investment Advisors LLC now owns 131,864 shares of the company’s stock valued at $980,000 after buying an additional 4,789 shares in the last quarter. Boston Partners increased its position in Clarivate by 76.3% during the 1st quarter. Boston Partners now owns 557,496 shares of the company’s stock worth $4,140,000 after purchasing an additional 241,292 shares in the last quarter. Finally, Transcend Capital Advisors LLC acquired a new position in Clarivate during the 2nd quarter worth approximately $86,000. Institutional investors 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.