Clarivate (NYSE:CLVT) Shares Gap Up - Time to Buy?

Clarivate Plc (NYSE:CLVT - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $3.59, but opened at $4.28. Clarivate shares last traded at $4.23, with a volume of 1,061,599 shares.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 price objective on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate Price Performance

The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The stock's 50-day moving average price is $3.88 and its 200-day moving average price is $4.87. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -4.54 and a beta of 1.48.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $574.03 million. Clarivate had a negative net margin of 24.90% and a positive return on equity of 9.10%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Equities research analysts anticipate that Clarivate Plc will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Clarivate

Several large investors have recently added to or reduced their stakes in the business. Perpetual Ltd raised its stake in Clarivate by 24.6% in the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company's stock valued at $46,699,000 after acquiring an additional 1,816,936 shares during the period. GAMMA Investing LLC increased its position in shares of Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after buying an additional 3,245 shares during the period. American Century Companies Inc. lifted its position in Clarivate by 175.5% during the 4th quarter. American Century Companies Inc. now owns 5,061,276 shares of the company's stock valued at $25,711,000 after acquiring an additional 3,224,278 shares during the period. IFP Advisors Inc grew its holdings in shares of Clarivate by 11,132.2% during the fourth quarter. IFP Advisors Inc now owns 20,555 shares of the company's stock valued at $106,000 after buying an additional 20,372 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Clarivate during the 4th quarter valued at about $19,172,000. Institutional investors 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.