Clarivate Plc (NYSE:CLVT) Shares Bought by Baupost Group LLC MA

Baupost Group LLC MA raised its stake in Clarivate Plc (NYSE:CLVT) by 27.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,929,635 shares of the company’s stock after purchasing an additional 8,331,233 shares during the period. Clarivate accounts for approximately 6.1% of Baupost Group LLC MA’s investment portfolio, making the stock its 5th biggest position. Baupost Group LLC MA owned approximately 5.83% of Clarivate worth $221,510,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CLVT. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth $31,000. Nisa Investment Advisors LLC acquired a new position in Clarivate in the 2nd quarter valued at approximately $26,000. J.W. Cole Advisors Inc. bought a new position in Clarivate during the 1st quarter worth $76,000. Forum Financial Management LP bought a new position in shares of Clarivate during the second quarter worth about $75,000. Finally, Headlands Technologies LLC lifted its position in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after purchasing an additional 12,909 shares during the period. 85.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada cut their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.75.

Insiders Place Their Bets

In other news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now directly owns 23,741 shares in the company, valued at $160,251.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the purchase, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The disclosure for this purchase can be found here. Corporate insiders own 22.77% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT opened at $6.94 on Friday. Clarivate Plc has a one year low of $4.97 and a one year high of $9.60. The company has a market cap of $4.64 billion, a PE ratio of -4.20, a P/E/G ratio of 3.24 and a beta of 1.17. The stock has a 50-day moving average of $6.44 and a 200-day moving average of $6.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The firm had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same quarter last year, the firm posted $0.16 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Clarivate Company 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.