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

Clarivate PLC (NYSE:CLVT)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $1.66 and last traded at $1.6650, with a volume of 637032 shares trading hands. The stock had previously closed at $1.71.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several recent analyst reports. Citigroup cut their price target on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a report on Thursday, July 30th. The Goldman Sachs Group decreased their price objective on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Barclays dropped their target price on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, July 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Clarivate has a consensus rating of “Reduce” and a consensus target price of $3.02.

Clarivate Trading Down 1.5%

The stock has a market capitalization of $1.07 billion, a PE ratio of -3.22 and a beta of 1.39. The company’s 50 day moving average price is $1.96 and its two-hundred day moving average price is $2.26. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.85 and a quick ratio of 0.85.

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

Insiders Place Their Bets

In related news, Director Kenneth Cornick bought 650,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $1.86 per share, for a total transaction of $1,209,000.00. Following the acquisition, the director directly owned 1,750,000 shares in the company, valued at $3,255,000. This represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew Snyder sold 2,489,618 shares of the business’s stock in a transaction dated 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. The trade was a 39.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 22.88% of the company’s stock.

Institutional Trading of Clarivate

Several institutional investors have recently made changes to their positions in CLVT. KBC Group NV acquired a new stake in Clarivate in the 1st quarter valued at about $4,118,000. Empowered Funds LLC grew its position in shares of Clarivate by 418.6% during the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company’s stock worth $5,100,000 after buying an additional 1,627,159 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Clarivate during the first quarter worth approximately $3,342,000. CenterBook Partners LP increased its stake in shares of Clarivate by 81.8% during the fourth quarter. CenterBook Partners LP now owns 1,369,972 shares of the company’s stock worth $4,576,000 after buying an additional 616,490 shares during the period. Finally, Amundi raised its holdings in Clarivate by 1,670.2% in the first quarter. Amundi now owns 558,992 shares of the company’s stock valued at $1,414,000 after acquiring an additional 527,414 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Company Profile

Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.