In the latest trading session, 1,530,381 Clarivate Plc (NYSE:CLVT) shares changed hands as the company’s beta touched 0. With the company’s most recent per share price at $27.76 changing hands around $0.66 or 0.02% at last look, the market valuation stands at $17.06 Billion. CLVT’s current price is a discount, trading about -20.86% off its 52-week high of $33.55. The share price had its 52-week low at $19.73, which suggests the last value was 28.93% up since then. When we look at Clarivate Plc’s average trading volume, we note the 10-day average is 1.01 Million shares, with the 3-month average coming to 2.24 Million.
Analysts gave the Clarivate Plc (CLVT) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.5. If we narrow down to specifics, the data shows that none out of 8 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, none recommended CLVT as a Hold, 8 felt it is a Buy and none rated the stock as Underweight. Clarivate Plc’s EPS for the current quarter is expected to be $0.16.
Clarivate Plc (NYSE:CLVT) trade information
Instantly CLVT is in green as seen in intraday trades today. With action 2.44%, the performance over the past five days has been red. The jump to weekly highs of $29.03 on Wednesday, May 12 added 4.06% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.06%, with the 5-day performance at -0.01% in the red. However, in the 30-day time frame, Clarivate Plc (NYSE:CLVT) is 0.07% up. Looking at the short shares, we see there were 4.46 Million shares sold at short interest cover period of 1.99 days.
The consensus price target for the stock as assigned by Wall Street analysts is $33.43, meaning bulls need an upside of 20.43% from its recent market value. According to analyst projections, CLVT’s forecast low is $30 with $36 as the target high. To hit the forecast high, the stock’s price needs a +29.68% upsurge from its latest level, while the stock would need to tank 8.07% for it to hit the projected low.
Clarivate Plc (CLVT) estimates and forecasts
Data shows that the Clarivate Plc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value dive -12.97% over the past 6 months, a 17.19% in annual growth rate that is considerably higher than the industry average of 2.2%. But despite this, analysts have looked to lower expectations by downgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Clarivate Plc will drop -11.1%, while the growth in revenue is estimated to hit 42.9% for the next quarter. Year-over-year growth is forecast to reach 44.6% up from the last financial year.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Clarivate Plc earnings to increase by 67.8%, but the outlook for the next 5-year period is at 21.8% per year.
Clarivate Plc (NYSE:CLVT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 15.25% of Clarivate Plc shares while 76.46% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.22%. There are 275 institutions holding the Clarivate Plc stock share, with Leonard Green & Partners, L.P. the top institutional holder. As of Dec 30, 2020, the company held 19.05% of the shares, roughly 115.86 Million CLVT shares worth $3.44 Billion.
Price (T.Rowe) Associates Inc holds the second largest percentage of outstanding shares, with 11.07% or 67.34 Million shares worth $2Billion as of Dec 30, 2020.
Among Mutual Funds, the top two as of Dec 30, 2020 were Price (T.Rowe) New Horizons Fund and Price (T.Rowe) Mid Cap Growth Fund. With 17475279 shares estimated at $519.19 Million under it, the former controlled 2.87% of total outstanding shares. On the other hand, Price (T.Rowe) Mid Cap Growth Fund held about 2.51% of the shares, roughly 15.25 Million shares worth around $453.08 Million.