Clarivate (NYSE:CLVT) Hits New 1-Year Low - What's Next?

Key Points

• Clarivate shares hit a new 52-week low at $1.66, with the stock trading below both its 50-day and 200-day moving averages.
• Analyst sentiment is largely negative: ratings include one Buy, three Holds and three Sells, producing an average “Reduce” rating and a $3.02 price target.
• Although quarterly EPS slightly exceeded estimates, revenue declined 5.5% year over year and the company reported a negative net margin; insider activity was mixed, with one director buying shares while another sold a substantial stake.

Clarivate PLC (NYSE:CLVT - Get Free Report) reached a new 52-week low on Tuesday. The stock traded as low as $1.66 and last traded at $1.6650, with a volume of 637032 shares changing hands. The stock had previously closed at $1.71.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Citigroup cut their target price on shares of Clarivate from $2.80 to $2.50 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Clarivate in a report on Monday, September 21st. The Goldman Sachs Group decreased their price target on shares of Clarivate from $2.90 to $2.60 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Finally, Stifel Nicolaus dropped their price target on shares of Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Clarivate presently has an average rating of "Reduce" and an average price target of $3.02.

Clarivate Stock Down 2.6%

The firm has a market cap of $1.07 billion, a PE ratio of -3.20 and a beta of 1.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.93. The firm has a 50 day moving average price of $1.98 and a 200-day moving average price of $2.27.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The firm had revenue of $587.30 million for the quarter, compared to analyst estimates of $589.73 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The business's quarterly revenue was down 5.5% compared to the same quarter last year. Research analysts forecast that Clarivate PLC will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth Cornick acquired 250,000 shares of Clarivate stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $1.85 per share, for a total transaction of $462,500.00. Following the acquisition, the director owned 2,000,000 shares of the company's stock, valued at $3,700,000. This trade represents a 14.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Snyder sold 2,489,618 shares of Clarivate stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $1.94, for a total transaction of $4,829,858.92. Following the sale, the director directly owned 3,856,597 shares of the company's stock, valued at approximately $7,481,798.18. This trade represents a 39.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Invenomic Capital Management LP grew its position in shares of Clarivate by 3.8% in the 4th quarter. Invenomic Capital Management LP now owns 9,029,414 shares of the company's stock valued at $30,158,000 after buying an additional 326,369 shares during the last quarter. BW Gestao de Investimentos Ltda. lifted its position in Clarivate by 51.7% in the fourth quarter. BW Gestao de Investimentos Ltda. now owns 4,345,321 shares of the company's stock valued at $14,513,000 after acquiring an additional 1,480,300 shares during the last quarter. First Trust Advisors LP boosted its stake in Clarivate by 10.3% in the first quarter. First Trust Advisors LP now owns 5,522,601 shares of the company's stock valued at $13,972,000 after acquiring an additional 516,418 shares in the last quarter. Empowered Funds LLC boosted its stake in Clarivate by 418.6% in the first quarter. Empowered Funds LLC now owns 2,015,829 shares of the company's stock valued at $5,100,000 after acquiring an additional 1,627,159 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Clarivate by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 1,845,148 shares of the company's stock worth $4,668,000 after purchasing an additional 24,257 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Company Profile

Clarivate Plc NYSE: CLVT provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.

The company's offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.

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