Clarivate (NYSE:CLVT) Trading Down 8.3%

Clarivate Plc (NYSE:CLVT - Get Free Report) shares dropped 8.3% on Wednesday . The stock traded as low as $6.25 and last traded at $6.37. Approximately 2,137,776 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 4,056,795 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several research analyst reports. Oppenheimer reduced their target price on shares of Clarivate from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Wednesday, February 28th. Morgan Stanley cut their target price on Clarivate from $9.00 to $8.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 28th. Barclays reduced their price target on shares of Clarivate from $7.00 to $6.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 28th. Finally, Royal Bank of Canada lowered their price objective on shares of Clarivate from $10.00 to $8.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Clarivate currently has an average rating of "Hold" and an average price target of $8.00.

Clarivate Trading Down 11.4 %

The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of -4.36, a PEG ratio of 1.41 and a beta of 1.24. The business has a fifty day simple moving average of $7.16 and a 200-day simple moving average of $7.88.

Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. During the same quarter last year, the business earned $0.20 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that Clarivate Plc will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. grew its holdings in Clarivate by 23.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company's stock worth $136,000 after acquiring an additional 3,798 shares during the period. Bank of New York Mellon Corp lifted its stake in Clarivate by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 5,690,927 shares of the company's stock valued at $38,186,000 after buying an additional 62,229 shares during the period. ING Groep NV bought a new position in shares of Clarivate during the 3rd quarter worth approximately $9,126,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Clarivate by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,950 shares of the company's stock valued at $275,000 after acquiring an additional 1,751 shares in the last quarter. Finally, M&T Bank Corp lifted its position in shares of Clarivate by 12.2% during the 3rd quarter. M&T Bank Corp now owns 23,692 shares of the company's stock valued at $158,000 after acquiring an additional 2,579 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

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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