Kenneth Cornick Acquires 225,000 Shares of Clarivate (NYSE:CLVT) Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick acquired 225,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $3.52 per share, with a total value of $792,000.00. Following the completion of the transaction, the director owned 1,000,000 shares in the company, valued at $3,520,000. The trade was a 29.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Clarivate Stock Up 4.3%

NYSE:CLVT traded up $0.15 on Monday, reaching $3.55. The stock had a trading volume of 6,074,979 shares, compared to its average volume of 3,641,681. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The company has a 50-day moving average of $3.91 and a 200 day moving average of $4.09. The stock has a market cap of $2.34 billion, a P/E ratio of -6.22 and a beta of 1.43. Clarivate PLC has a 12-month low of $3.04 and a 12-month high of $6.70.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $623.10 million during the quarter, compared to analysts’ expectations of $570.35 million. Clarivate had a negative net margin of 15.83% and a positive return on equity of 8.55%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, research analysts predict that Clarivate PLC will post 0.63 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its stake in shares of Clarivate by 2.4% during the first quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company’s stock valued at $428,000 after acquiring an additional 2,520 shares during the period. Cetera Investment Advisers increased its stake in shares of Clarivate by 11.2% during the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock valued at $112,000 after acquiring an additional 2,617 shares during the period. California State Teachers Retirement System increased its stake in shares of Clarivate by 0.9% during the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after acquiring an additional 2,788 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Clarivate by 7.6% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,253 shares of the company’s stock valued at $158,000 after acquiring an additional 2,858 shares during the period. Finally, Millstone Evans Group LLC increased its stake in shares of Clarivate by 156.6% during the first quarter. Millstone Evans Group LLC now owns 7,545 shares of the company’s stock valued at $30,000 after acquiring an additional 4,605 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CLVT has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Clarivate in a research report on Friday, July 18th. They issued a “hold” rating and a $4.50 price objective for the company. The Goldman Sachs Group set a $4.20 price target on shares of Clarivate in a research note on Thursday. Wolfe Research assumed coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clarivate in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Clarivate currently has a consensus rating of “Reduce” and a consensus target price of $4.68.

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.