Michael J. Angelakis Purchases 1,500,000 Shares of Clarivate Plc (NYSE:CLVT) Stock

Clarivate Plc (NYSE:CLVT) Director Michael J. Angelakis acquired 1,500,000 shares of Clarivate stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the acquisition, the director now directly owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Clarivate Trading Up 2.1 %

Shares of NYSE:CLVT opened at $5.25 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -2.64 and a beta of 1.18. Clarivate Plc has a 1-year low of $4.25 and a 1-year high of $9.60. The company has a 50 day moving average price of $6.19 and a 200 day moving average price of $6.12.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, research analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLVT has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.25.

Hedge Funds Weigh In On Clarivate

A number of hedge funds and other institutional investors have recently modified their holdings of CLVT. Sei Investments Co. lifted its stake in Clarivate by 391.8% during the first quarter. Sei Investments Co. now owns 72,571 shares of the company’s stock valued at $539,000 after buying an additional 57,815 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Clarivate in the 1st quarter valued at approximately $537,000. Capital World Investors acquired a new position in Clarivate in the 1st quarter worth approximately $30,104,000. Price T Rowe Associates Inc. MD grew its position in Clarivate by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,446 shares of the company’s stock worth $1,839,000 after purchasing an additional 13,103 shares in the last quarter. Finally, Impactive Capital LP raised its stake in Clarivate by 0.3% during the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after purchasing an additional 109,247 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.