Michael J. Angelakis Buys 765,000 Shares of Clarivate Plc (NYSE:CLVT) Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis bought 765,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was acquired at an average cost of $5.19 per share, for a total transaction 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Clarivate Price Performance

Shares of NYSE CLVT opened at $5.25 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.73 billion, a P/E ratio of -2.64 and a beta of 1.18. The stock has a 50 day moving average of $6.19 and a two-hundred day moving average of $6.12. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data 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 company had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. During the same period last year, the firm posted $0.18 EPS. Clarivate’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays cut their price objective 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 price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Clarivate has an average rating of “Hold” and a consensus target price of $7.25.

Hedge Funds Weigh In On Clarivate

Several institutional investors have recently added to or reduced their stakes in CLVT. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock worth $168,000 after acquiring an additional 1,580 shares during the period. Arizona State Retirement System raised its stake in shares of Clarivate by 2.5% during the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock worth $479,000 after purchasing an additional 2,064 shares during the last quarter. KBC Group NV lifted its holdings in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares during the period. Integrated Investment Consultants LLC grew its position in Clarivate by 2.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after buying an additional 2,696 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in Clarivate by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after buying an additional 2,865 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.