Barclays PLC Lowers Position in Clarivate Plc (NYSE:CLVT)

Barclays PLC cut its holdings in shares of Clarivate Plc (NYSE:CLVT) by 46.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,218 shares of the company’s stock after selling 102,591 shares during the quarter. Barclays PLC’s holdings in Clarivate were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. KBC Group NV grew its holdings in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares during the period. Integrated Investment Consultants LLC boosted its holdings in Clarivate by 2.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after acquiring an additional 2,696 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Clarivate by 2.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after acquiring an additional 2,865 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Clarivate by 21.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock valued at $254,000 after acquiring an additional 6,284 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Clarivate by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,006 shares of the company’s stock valued at $554,000 after acquiring an additional 7,014 shares during the period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Clarivate

In other news, Director Michael J. Angelakis purchased 1,500,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the transaction, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLVT shares. Barclays lowered 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. William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada decreased their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Clarivate currently has a consensus rating of “Hold” and an average target price of $7.10.

Clarivate Stock Performance

Shares of CLVT opened at $5.09 on Thursday. The stock has a 50-day simple moving average of $5.16 and a 200-day simple moving average of $5.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $3.62 billion, a PE ratio of -2.56 and a beta of 1.14. Clarivate Plc has a 1 year low of $4.25 and a 1 year high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting 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 analysts’ expectations of $640.81 million. During the same quarter last year, the business posted $0.18 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Clarivate declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.