Clarivate Plc (NYSE:CLVT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in Clarivate Plc (NYSE:CLVT) by 37.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,725 shares of the company’s stock after selling 19,504 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Clarivate were worth $232,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate in the second quarter valued at about $26,000. Evermay Wealth Management LLC purchased a new position in Clarivate during the first quarter worth about $31,000. Truist Financial Corp acquired a new stake in Clarivate in the second quarter valued at about $63,000. Forum Financial Management LP purchased a new stake in Clarivate in the 2nd quarter valued at approximately $75,000. Finally, Headlands Technologies LLC increased its position in Clarivate by 749.2% during 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 and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CLVT shares. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays lowered 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. Finally, Royal Bank of Canada reduced their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and an average target price of $7.25.

Clarivate Stock Up 0.4 %

CLVT opened at $4.59 on Tuesday. The firm has a market cap of $3.26 billion, a P/E ratio of -2.31 and a beta of 1.18. The business’s fifty day simple moving average is $6.51 and its 200 day simple moving average is $6.25. Clarivate Plc has a 52 week low of $4.43 and a 52 week high of $9.60. The company has a quick ratio of 0.90, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The business had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts anticipate that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the transaction, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred 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 transaction, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is owned by company insiders.

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.