Truist Financial Corp Acquires Shares of 11,000 Clarivate Plc (NYSE:CLVT)

Truist Financial Corp bought a new stake in Clarivate Plc (NYSE:CLVT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,000 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors have also recently made changes to their positions in CLVT. Exor N.V. raised its holdings in Clarivate by 2.4% during the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company’s stock valued at $500,001,000 after acquiring an additional 1,566,519 shares during the period. Baupost Group LLC MA raised its stake in shares of Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares during the period. Impactive Capital LP raised its stake in shares of Clarivate by 0.3% during the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after purchasing an additional 109,247 shares during the period. Dimensional Fund Advisors LP boosted its stake in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its holdings in Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after buying an additional 2,332,388 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.58.

Insiders Place Their Bets

In other news, Director Andrew Miles Snyder acquired 28,938 shares of Clarivate stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the transaction, the director now owns 288,334 shares of the company’s stock, valued at $1,582,953.66. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Miles Snyder acquired 28,938 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the acquisition, the director now owns 288,334 shares in the company, valued at approximately $1,582,953.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 197,646 shares of company stock valued at $1,379,111 over the last 90 days. Insiders own 22.77% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT opened at $6.70 on Monday. Clarivate Plc has a 1-year low of $4.97 and a 1-year high of $9.60. The company has a market capitalization of $4.48 billion, a P/E ratio of -4.04 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $6.64 and its 200 day simple moving average is $6.37.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The firm had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Clarivate 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.