Wolfe Research Initiates Coverage on Clarivate (NYSE:CLVT)

Key Points

• Wolfe Research has initiated coverage on Clarivate (NYSE:CLVT) with a "peer perform" rating, joining other analysts who have mostly rated the stock as a hold.
• Clarivate's recent quarterly earnings met expectations with an EPS of $0.18, although the revenue declined 4.4% year-over-year.
• Insider James Gordon Samson recently sold 100,000 shares of Clarivate stock, representing a 7.29% decrease in his ownership of the company.

Wolfe Research started coverage on shares of Clarivate (NYSE:CLVT - Get Free Report) in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage set a "peer perform" rating on the stock.

Several other equities analysts also recently commented on the company. Jefferies Financial Group began coverage on Clarivate in a research report on Friday, July 18th. They issued a "hold" rating and a $4.50 target price for the company. Wall Street Zen downgraded Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus target price of $4.83.

Clarivate Stock Down 4.3%

CLVT opened at $4.16 on Wednesday. Clarivate has a 1-year low of $3.04 and a 1-year high of $7.15. The stock's fifty day simple moving average is $4.26 and its 200 day simple moving average is $4.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.90. The stock has a market cap of $2.80 billion, a PE ratio of -6.73 and a beta of 1.40.

Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. The firm had revenue of $621.40 million for the quarter, compared to analyst estimates of $587.17 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, research analysts expect that Clarivate will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In related news, insider James Gordon Samson sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total transaction of $453,000.00. Following the completion of the sale, the insider owned 1,271,103 shares of the company's stock, valued at $5,758,096.59. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 23.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clarivate

A number of hedge funds have recently added to or reduced their stakes in CLVT. Tower Research Capital LLC TRC grew its stake in Clarivate by 34.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock valued at $142,000 after acquiring an additional 7,247 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Clarivate in the fourth quarter valued at approximately $56,000. Jane Street Group LLC grew its stake in Clarivate by 320.5% in the fourth quarter. Jane Street Group LLC now owns 838,320 shares of the company's stock valued at $4,259,000 after acquiring an additional 638,977 shares during the period. Crestline Management LP grew its stake in Clarivate by 568.9% in the fourth quarter. Crestline Management LP now owns 68,400 shares of the company's stock valued at $347,000 after acquiring an additional 58,174 shares during the period. Finally, D. E. Shaw & Co. Inc. purchased a new position in shares of Clarivate during the fourth quarter valued at approximately $1,056,000. Institutional investors and hedge funds own 85.72% of the company's stock.

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.

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