Royal Bank of Canada Cuts Clarivate (NYSE:CLVT) Price Target to $6.00

Clarivate (NYSE:CLVT) had its price objective lowered by Royal Bank of Canada from $7.00 to $6.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

CLVT has been the topic of several other research reports. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Barclays dropped their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Performance

NYSE CLVT opened at $4.57 on Thursday. The stock has a market cap of $3.31 billion, a PE ratio of -2.30 and a beta of 1.18. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate has a twelve month low of $4.55 and a twelve month high of $9.60. The stock has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $6.27.

Clarivate (NYSE:CLVT) last released 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 business had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a positive return on equity of 9.99% and a negative net margin of 50.00%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 EPS. Equities analysts anticipate that Clarivate will post 0.64 earnings per share for the current year.

Insider Transactions at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 916,583 shares in the company, valued at $6,416,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Baupost Group LLC MA increased its holdings in shares of Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after acquiring an additional 8,331,233 shares during the last quarter. Capital World Investors purchased a new position in shares of Clarivate in the 1st quarter valued at about $30,104,000. Dimensional Fund Advisors LP boosted its holdings in shares of Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after buying an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after buying an additional 2,332,388 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Clarivate by 37.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock worth $35,558,000 after acquiring an additional 1,704,761 shares in the last quarter. 85.72% of the stock is 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.