Cerity Partners LLC Boosts Holdings in Clarivate Plc (NYSE:CLVT)

Cerity Partners LLC increased its stake in Clarivate Plc (NYSE:CLVT) by 82.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,204 shares of the company’s stock after purchasing an additional 91,384 shares during the quarter. Cerity Partners LLC’s holdings in Clarivate were worth $1,436,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate in the second quarter valued at $26,000. Truist Financial Corp acquired a new stake in shares of Clarivate in the second quarter worth approximately $63,000. KBC Group NV grew its holdings in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the period. Forum Financial Management LP purchased a new position in Clarivate during the second quarter worth approximately $75,000. Finally, Headlands Technologies LLC boosted its holdings in Clarivate by 749.2% in the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock valued at $83,000 after acquiring an additional 12,909 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clarivate

In related news, Director Michael J. Angelakis bought 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now directly owns 3,465,000 shares of the company’s stock, valued at $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now owns 916,583 shares in the company, valued at $6,416,081. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. 23.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Barclays lowered their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Clarivate has a consensus rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

NYSE CLVT opened at $5.72 on Wednesday. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $6.09. The firm has a market capitalization of $4.06 billion, a PE ratio of -2.87 and a beta of 1.12.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. During the same period last year, the company posted $0.18 EPS. The company’s revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Clarivate Plc will post 0.63 EPS for the current fiscal year.

About Clarivate

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.