Empowered Funds LLC Invests $101,000 in Clarivate Plc (NYSE:CLVT)

Empowered Funds LLC bought a new stake in Clarivate Plc (NYSE:CLVT) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,204 shares of the company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CLVT. SG Americas Securities LLC bought a new position in Clarivate during the second quarter valued at approximately $1,410,000. Boston Partners boosted its stake in shares of Clarivate by 76.3% in the 1st quarter. Boston Partners now owns 557,496 shares of the company’s stock valued at $4,140,000 after purchasing an additional 241,292 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Clarivate during the 2nd quarter valued at $2,251,000. Raymond James & Associates raised its position in Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after purchasing an additional 1,157,976 shares during the period. Finally, Sei Investments Co. lifted its stake in Clarivate by 391.8% in the first quarter. Sei Investments Co. now owns 72,571 shares of the company’s stock worth $539,000 after purchasing an additional 57,815 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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. This trade represents a 42.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction dated 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 owns 976,583 shares of the company’s stock, valued at $6,836,081. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock valued at $1,379,111 in the last 90 days. 23.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Clarivate Stock Performance

Shares of Clarivate stock opened at $5.60 on Wednesday. The firm has a market cap of $3.97 billion, a P/E ratio of -2.80 and a beta of 1.18. The stock’s fifty day moving average price is $6.17 and its 200-day moving average price is $6.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. Clarivate’s revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. On average, equities research analysts expect that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

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.