Raymond James & Associates Sells 2,598,280 Shares of Clarivate Plc (NYSE:CLVT)

Raymond James & Associates decreased its position in shares of Clarivate Plc (NYSE:CLVT) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,646,510 shares of the company’s stock after selling 2,598,280 shares during the quarter. Raymond James & Associates owned about 0.70% of Clarivate worth $32,990,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Clarivate in the second quarter valued at approximately $26,000. Evermay Wealth Management LLC bought a new position in Clarivate during the first quarter worth $31,000. Truist Financial Corp bought a new position in Clarivate during the second quarter worth $63,000. Forum Financial Management LP bought a new stake in shares of Clarivate in the second quarter valued at about $75,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Clarivate in the first quarter valued at about $76,000. Institutional investors own 85.72% of the company’s stock.

Insider Buying and Selling at Clarivate

In other news, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now directly owns 976,583 shares of the company’s stock, valued at $6,836,081. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CLVT has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays reduced their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.58.

Clarivate Price Performance

NYSE:CLVT opened at $6.54 on Thursday. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of -3.94 and a beta of 1.17. Clarivate Plc has a 52-week low of $4.97 and a 52-week high of $9.60. The stock has a fifty day moving average of $6.67 and a 200 day moving average of $6.36. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, research analysts expect 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.