Clarivate Plc (NYSE:CLVT) Shares Purchased by Fmr LLC

Fmr LLC raised its position in shares of Clarivate Plc (NYSE:CLVT) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,088,942 shares of the company’s stock after acquiring an additional 401,920 shares during the period. Fmr LLC owned approximately 0.72% of Clarivate worth $36,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Clarivate during the 2nd quarter worth $26,000. KBC Group NV lifted its stake in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Clarivate in the second quarter worth about $63,000. Forum Financial Management LP acquired a new stake in shares of Clarivate in the second quarter valued at about $75,000. Finally, Pitcairn Co. purchased a new stake in shares of Clarivate during the 3rd quarter valued at about $100,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Up 0.2 %

Shares of NYSE:CLVT opened at $5.72 on Monday. The firm has a market cap of $4.06 billion, a PE ratio of -2.87 and a beta of 1.12. The company has a fifty day simple moving average of $5.97 and a 200 day simple moving average of $6.09. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60.

Clarivate (NYSE:CLVT) last released its earnings results 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 negative net margin of 50.00% and a positive return on equity of 9.69%. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CLVT has been the subject of several recent research reports. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada lowered their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Barclays dropped their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.25.

Insiders Place Their Bets

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated 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 directly owns 916,583 shares in the company, valued at $6,416,081. This represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by company insiders.

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.