Clarivate (NYSE:CLVT) Hits New 52-Week Low – Time to Sell?

Clarivate Plc (NYSE:CLVT)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $4.43 and last traded at $4.44, with a volume of 945964 shares trading hands. The stock had previously closed at $4.50.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank of Canada decreased their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays cut their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.25.

Clarivate Trading Down 3.8 %

The firm’s fifty day simple moving average is $6.34 and its 200 day simple moving average is $6.19. The stock has a market capitalization of $3.08 billion, a P/E ratio of -2.18 and a beta of 1.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting 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 business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts forecast that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the business’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 sale, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. This trade represents a 42.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,646 shares of company stock worth $1,379,111 in the last ninety days. 22.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Clarivate in the 2nd quarter valued at approximately $26,000. Evermay Wealth Management LLC acquired a new stake in Clarivate in the first quarter valued at $31,000. Truist Financial Corp bought a new position in Clarivate during the 2nd quarter worth $63,000. KBC Group NV lifted its holdings in Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares during the period. Finally, Forum Financial Management LP bought a new stake in shares of Clarivate in the 2nd quarter valued at about $75,000. Institutional investors own 85.72% of the company’s stock.

About Clarivate

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.