Clarivate (NYSE:CLVT) Shares Gap Down - Time to Sell?

Clarivate PLC (NYSE:CLVT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $4.31, but opened at $4.22. Clarivate shares last traded at $4.25, with a volume of 286,342 shares changing hands.

Analyst Ratings Changes

Several research firms have weighed in on CLVT. Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group assumed coverage on shares of Clarivate in a report on Friday. They issued a "hold" rating and a $4.50 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Clarivate presently has an average rating of "Hold" and an average price target of $4.83.

Clarivate Price Performance

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's 50-day simple moving average is $4.29 and its two-hundred day simple moving average is $4.36. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -4.39 and a beta of 1.47.

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

Insiders Place Their Bets

In related news, insider James Gordon Samson sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total value of $453,000.00. Following the sale, the insider owned 1,271,103 shares of the company's stock, valued at $5,758,096.59. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.18% of the stock is currently owned by company insiders.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLVT. Clarkston Capital Partners LLC increased its holdings in shares of Clarivate by 5.4% in the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock valued at $292,895,000 after acquiring an additional 3,794,083 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Clarivate by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company's stock valued at $141,107,000 after acquiring an additional 9,691,104 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of Clarivate in the 1st quarter valued at $47,160,000. AustralianSuper Pty Ltd purchased a new position in Clarivate in the 1st quarter valued at $39,593,000. Finally, Vanguard Group Inc. grew its position in Clarivate by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company's stock valued at $35,251,000 after buying an additional 218,938 shares during the last quarter. Institutional investors and hedge funds 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.