Oppenheimer Asset Management Inc. Buys 74,412 Shares of Clarivate Plc (NYSE:CLVT)

Oppenheimer Asset Management Inc. grew its stake in Clarivate Plc (NYSE:CLVT) by 27.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,577 shares of the company’s stock after buying an additional 74,412 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.05% of Clarivate worth $1,961,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Clarivate in the fourth quarter worth $54,457,000. Baupost Group LLC MA boosted its holdings in shares of Clarivate by 20.0% in the 1st quarter. Baupost Group LLC MA now owns 30,598,402 shares of the company’s stock worth $227,346,000 after purchasing an additional 5,098,402 shares in the last quarter. Glenview Capital Management LLC increased its position in shares of Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares during the last quarter. Capital World Investors purchased a new position in shares of Clarivate during the 1st quarter valued at about $30,104,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Clarivate in the 4th quarter worth approximately $25,576,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Down 0.6 %

Shares of NYSE CLVT opened at $6.64 on Wednesday. The company has a market cap of $4.44 billion, a price-to-earnings ratio of -4.00, a PEG ratio of 3.24 and a beta of 1.17. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average is $6.39 and its 200 day moving average is $6.45. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts expect that Clarivate Plc will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays decreased their target price on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.75.

Insiders Place Their Bets

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the acquisition, the director now directly owns 288,334 shares in the company, valued at $1,582,953.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andrew Miles Snyder bought 28,938 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the purchase, the director now owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The disclosure for this sale can be found here. Company insiders own 22.77% 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.