Insider Buying: Clarivate (NYSE:CLVT) Director Acquires 100,000 Shares of Stock

Clarivate PLC (NYSE:CLVT) Director Kenneth Cornick purchased 100,000 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $3.45 per share, for a total transaction of $345,000.00. Following the acquisition, the director directly owned 1,100,000 shares of the company’s stock, valued at $3,795,000. This represents a 10.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Clarivate Stock Up 1.9%

Clarivate stock traded up $0.07 during mid-day trading on Thursday, hitting $3.54. The company’s stock had a trading volume of 716,298 shares, compared to its average volume of 5,141,360. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $5.88. The company has a market cap of $2.34 billion, a PE ratio of -6.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. The firm’s 50 day moving average is $3.79 and its 200 day moving average is $4.09.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business 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 quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, analysts anticipate that Clarivate PLC will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CLVT. Jefferies Financial Group initiated coverage on shares of Clarivate in a research note on Friday, July 18th. They issued a “hold” rating and a $4.50 target price for the company. The Goldman Sachs Group set a $4.20 price target on Clarivate in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Wednesday, November 5th. Finally, Wolfe Research initiated coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $4.90.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Clarivate by 537.7% during the third quarter. Russell Investments Group Ltd. now owns 38,406 shares of the company’s stock worth $147,000 after acquiring an additional 32,383 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Clarivate by 3.3% in the third quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock valued at $83,373,000 after acquiring an additional 696,903 shares during the last quarter. 111 Capital acquired a new position in shares of Clarivate in the 3rd quarter valued at about $48,000. American Century Companies Inc. lifted its position in shares of Clarivate by 20.6% during the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock valued at $38,200,000 after acquiring an additional 1,706,306 shares during the period. Finally, R Squared Ltd raised its holdings in Clarivate by 45.8% during the third quarter. R Squared Ltd now owns 19,108 shares of the company’s stock worth $73,000 after buying an additional 5,998 shares during the last quarter. Institutional investors 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.