BNP Paribas Financial Markets Decreases Stock Holdings in Clarivate Plc (NYSE:CLVT)

BNP Paribas Financial Markets lowered its stake in shares of Clarivate Plc (NYSE:CLVT) by 65.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,565 shares of the company’s stock after selling 348,914 shares during the quarter. BNP Paribas Financial Markets’ holdings in Clarivate were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Clarivate Trading Down 1.2 %

Shares of CLVT stock opened at $5.65 on Tuesday. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The company has a 50 day moving average price of $5.94 and a 200 day moving average price of $6.08. The stock has a market capitalization of $4.01 billion, a P/E ratio of -2.84 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $640.81 million. During the same period in the previous year, the company posted $0.18 earnings per share. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael J. Angelakis acquired 765,000 shares of Clarivate stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the purchase, the director now directly owns 3,465,000 shares in the company, valued at approximately $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction on Tuesday, October 15th. The shares were 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 approximately $6,416,081. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CLVT. Royal Bank of Canada reduced their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays decreased their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Clarivate presently has a consensus rating of “Hold” and a consensus price target of $7.25.

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.