Clarivate (NYSE:CLVT) Reaches New 12-Month Low at $6.03

Clarivate Plc (NYSE:CLVT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $6.03 and last traded at $6.11, with a volume of 1446754 shares traded. The stock had previously closed at $6.18.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Clarivate from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 28th. Barclays reduced their target price on Clarivate from $7.00 to $6.00 and set an "underweight" rating for the company in a research note on Wednesday, February 28th. Oppenheimer dropped their price target on Clarivate from $11.00 to $10.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 28th. Royal Bank of Canada reduced their price objective on Clarivate from $10.00 to $8.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group decreased their price objective on Clarivate from $8.50 to $7.50 and set a "buy" rating for the company in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Clarivate presently has an average rating of "Hold" and a consensus price target of $7.78.

Clarivate Stock Performance

The company has a 50-day moving average of $7.03 and a 200-day moving average of $7.85. The company has a market cap of $4.02 billion, a PE ratio of -3.62, a PEG ratio of 1.62 and a beta of 1.24. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.03.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.21. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The firm had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. During the same period in the previous year, the firm earned $0.20 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts anticipate that Clarivate Plc will post 0.61 earnings per share for the current year.

Institutional Trading of Clarivate

Hedge funds have recently bought and sold shares of the business. Exor N.V. grew its position in shares of Clarivate by 2.4% during the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company's stock valued at $500,001,000 after acquiring an additional 1,566,519 shares during the period. Clarkston Capital Partners LLC grew its holdings in Clarivate by 12.0% during the third quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company's stock valued at $386,275,000 after purchasing an additional 6,172,694 shares during the period. Impactive Capital LP increased its position in Clarivate by 0.3% in the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company's stock worth $281,502,000 after buying an additional 109,247 shares during the last quarter. Baupost Group LLC MA raised its stake in shares of Clarivate by 20.0% in the first quarter. Baupost Group LLC MA now owns 30,598,402 shares of the company's stock valued at $227,346,000 after buying an additional 5,098,402 shares during the period. Finally, Glenview Capital Management LLC lifted its position in shares of Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company's stock valued at $228,269,000 after buying an additional 4,472,302 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.