Clarivate (NYSE:CLVT) Stock Jumps 4.4% – Time to Buy?

Clarivate PLC (NYSE:CLVT) shares shot up 4.4% during trading on Thursday. The stock traded as high as $1.52 and last traded at $1.5350. 846,510 shares traded hands during trading, a decline of 86% from the average daily volume of 6,189,603 shares. The stock had previously closed at $1.47.

Analyst Ratings Changes

CLVT has been the subject of a number of recent analyst reports. Barclays cut their target price on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Stifel Nicolaus dropped their target price on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Citigroup reduced their price target on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday, September 21st. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Clarivate presently has an average rating of “Reduce” and an average price target of $3.02.

Clarivate Stock Up 7.1%

The company has a market cap of $1.01 billion, a P/E ratio of -3.03 and a beta of 1.40. The stock’s 50-day moving average price is $1.90 and its 200-day moving average price is $2.22. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.93.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $587.30 million during the quarter, compared to analyst estimates of $589.73 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.18 EPS. As a group, research analysts forecast that Clarivate PLC will post 0.67 EPS for the current year.

Insider Activity

In other news, Director Kenneth L. Cornick bought 650,000 shares of Clarivate stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average price of $1.86 per share, with a total value of $1,209,000.00. Following the completion of the purchase, the director directly owned 1,750,000 shares in the company, valued at $3,255,000. The trade was a 59.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Andrew Snyder sold 2,489,618 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the transaction, the director directly owned 3,856,597 shares in the company, valued at approximately $7,481,798.18. This represents a 39.23% decrease in their position. The disclosure for this sale is available in the SEC filing. 22.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clarivate

A number of large investors have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of Clarivate during the second quarter valued at approximately $114,000. Engineers Gate Manager LP purchased a new stake in shares of Clarivate in the 2nd quarter worth approximately $431,000. West Family Investments Inc. purchased a new stake in shares of Clarivate in the 2nd quarter worth approximately $43,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clarivate during the 2nd quarter valued at approximately $605,000. Finally, HB Wealth Management LLC bought a new position in Clarivate during the 2nd quarter valued at approximately $35,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Company Profile

Clarivate Plc (NYSE:CLVT) is a global information services and analytics company that provides data, software and research tools to organizations in academia, government, life sciences, intellectual property and other knowledge-intensive industries.

Its products and services include Web of Science research and citation databases, Derwent Innovation and other intellectual property solutions, life sciences analytics, and workflow and library-management platforms. Through its ProQuest and Ex Libris offerings, Clarivate also supports academic institutions with research content, library systems, discovery tools and digital resources.

Clarivate serves customers internationally, including universities, research organizations, corporations, publishers, government agencies and patent professionals.