Jefferies Financial Group Initiates Coverage on Clarivate (NYSE:CLVT)

Research analysts at Jefferies Financial Group initiated coverage on shares of Clarivate (NYSE:CLVT - Get Free Report) in a report released on Friday, MarketBeat reports. The brokerage set a "hold" rating and a $4.50 price target on the stock. Jefferies Financial Group's price target points to a potential upside of 6.76% from the stock's current price.

Separately, Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $4.83.

Clarivate Price Performance

NYSE:CLVT traded down $0.02 during trading hours on Friday, reaching $4.22. The company had a trading volume of 3,015,024 shares, compared to its average volume of 5,372,532. Clarivate has a one year low of $3.04 and a one year high of $7.15. The firm has a market capitalization of $2.88 billion, a PE ratio of -4.35 and a beta of 1.47. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average of $4.29 and a two-hundred day moving average of $4.36.

Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $593.70 million for the quarter, compared to analyst estimates of $574.03 million. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 earnings per share. Analysts forecast that Clarivate will post 0.63 earnings per share for the current year.

Insider Activity at Clarivate

In related news, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total transaction of $453,000.00. Following the completion of the sale, the insider owned 1,271,103 shares in the company, valued at $5,758,096.59. This trade represents a 7.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 23.18% of the company's stock.

Institutional Trading of Clarivate

A number of institutional investors have recently made changes to their positions in CLVT. American Century Companies Inc. raised its stake in shares of Clarivate by 175.5% in the fourth quarter. American Century Companies Inc. now owns 5,061,276 shares of the company's stock worth $25,711,000 after purchasing an additional 3,224,278 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Clarivate by 34.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock valued at $142,000 after buying an additional 7,247 shares during the last quarter. Norges Bank acquired a new position in shares of Clarivate in the 4th quarter valued at about $27,764,000. Atairos Partners GP Inc. acquired a new stake in Clarivate during the fourth quarter worth about $17,602,000. Finally, Deutsche Bank AG grew its holdings in Clarivate by 27.4% during the fourth quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock worth $133,000 after acquiring an additional 5,641 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.