Wall Street Zen downgraded shares of Clarivate (NYSE:CLVT - Free Report) from a buy rating to a hold rating in a research note released on Saturday.
Clarivate Price Performance
Shares of CLVT stock traded up $0.10 during mid-day trading on Friday, hitting $4.08. 14,843,007 shares of the stock were exchanged, compared to its average volume of 5,242,915. Clarivate has a 52-week low of $3.04 and a 52-week high of $7.15. 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 cap of $2.78 billion, a PE ratio of -4.20 and a beta of 1.47. The firm has a fifty day moving average of $4.10 and a 200 day moving average of $4.47.
Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 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 company had revenue of $593.70 million for the quarter, compared to analyst estimates of $574.03 million. During the same period last year, the company earned $0.14 earnings per share. Clarivate's quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts anticipate that Clarivate will post 0.63 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Millstone Evans Group LLC raised its holdings in shares of Clarivate by 156.6% during the first quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock valued at $30,000 after acquiring an additional 4,605 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Clarivate during the 1st quarter worth $30,000. RPO LLC purchased a new stake in shares of Clarivate during the fourth quarter worth $55,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Clarivate in the fourth quarter valued at about $56,000. Finally, MQS Management LLC acquired a new stake in shares of Clarivate in the first quarter valued at about $44,000. Institutional investors and hedge funds own 85.72% of the company's stock.
Clarivate Company Profile
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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.
Further Reading
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