Bar Veinstein Sells 60,000 Shares of Clarivate Plc (NYSE:CLVT) Stock

Clarivate Plc (NYSE:CLVT) insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Bar Veinstein also recently made the following trade(s):

• On Thursday, September 19th, Bar Veinstein sold 120,000 shares of Clarivate stock. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00.

Clarivate Price Performance

Shares of CLVT opened at $6.70 on Friday. The business’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $6.39. Clarivate Plc has a one year low of $4.97 and a one year high of $9.60. The company has a market capitalization of $4.48 billion, a P/E ratio of -4.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

Clarivate (NYSE:CLVT) last announced its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays dropped their target price on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada cut their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.58.

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently modified their holdings of CLVT. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate during the second quarter valued at approximately $26,000. Evermay Wealth Management LLC acquired a new position in Clarivate during the 1st quarter worth $31,000. Truist Financial Corp acquired a new position in Clarivate during the 2nd quarter worth $63,000. Forum Financial Management LP bought a new position in Clarivate in the 2nd quarter valued at $75,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Clarivate in the 1st quarter valued at $76,000. 85.72% of the stock is owned by institutional investors.

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.