Clarivate (NYSE:CLVT) Shares Gap Down - Here's Why

Clarivate PLC (NYSE:CLVT - Get Free Report)'s share price 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CLVT shares. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group began coverage on shares of Clarivate in a research note on Friday. They set 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 assigned a hold rating to the stock. According to data from MarketBeat.com, Clarivate currently has a consensus rating of "Hold" and an average price target of $4.83.

Clarivate Stock Down 2.2%

The firm has a 50-day moving average price of $4.30 and a two-hundred day moving average price of $4.38. 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 company has a market capitalization of $2.88 billion, a P/E ratio of -4.35 and a beta of 1.47.

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

Insider Buying and Selling at Clarivate

In related news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total transaction of $453,000.00. Following the transaction, the insider directly owned 1,271,103 shares of the company's stock, valued at approximately $5,758,096.59. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.18% of the stock is owned by company insiders.

Institutional Trading of Clarivate

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its position in shares of Clarivate by 175.5% during the 4th quarter. American Century Companies Inc. now owns 5,061,276 shares of the company's stock worth $25,711,000 after buying an additional 3,224,278 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Clarivate by 34.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock worth $142,000 after buying an additional 7,247 shares during the last quarter. Norges Bank purchased a new stake in Clarivate during the 4th quarter worth about $27,764,000. Atairos Partners GP Inc. purchased a new stake in Clarivate during the 4th quarter worth about $17,602,000. Finally, Deutsche Bank AG lifted its holdings in Clarivate by 27.4% during the 4th quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock worth $133,000 after purchasing an additional 5,641 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.

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