VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Clarivate PLC (NYSE:CLVT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 280,200 shares of the company’s stock, valued at approximately $605,000.
Several other hedge funds have also made changes to their positions in CLVT. Personal CFO Solutions LLC acquired a new position in Clarivate in the 1st quarter worth approximately $30,000. FreeGulliver LLC acquired a new stake in Clarivate during the 1st quarter valued at $30,000. Principal Financial Group Inc. acquired a new stake in Clarivate during the 1st quarter valued at $32,000. Parallel Advisors LLC lifted its holdings in shares of Clarivate by 94.2% in the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after purchasing an additional 6,687 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Clarivate in the second quarter valued at $35,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.
Insider Buying and Selling
In other Clarivate news, Director Kenneth Cornick purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $1.85 per share, with a total value of $462,500.00. Following the acquisition, the director directly owned 2,000,000 shares of the company’s stock, valued at approximately $3,700,000. This trade represents a 14.29% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Andrew Snyder sold 2,489,618 shares of Clarivate stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $1.94, for a total value of $4,829,858.92. Following the completion of the transaction, the director owned 3,856,597 shares of the company’s stock, valued at approximately $7,481,798.18. The trade was a 39.23% decrease in their position. The SEC filing for this sale provides additional information. 22.88% of the stock is owned by corporate insiders.
Clarivate Stock Up 0.8%
Clarivate (NYSE:CLVT – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. Clarivate had a negative net margin of 13.84% and a positive return on equity of 9.15%. The company had revenue of $587.30 million during the quarter, compared to analysts’ expectations of $589.73 million. During the same quarter in the prior year, the company posted $0.18 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Clarivate PLC will post 0.67 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on CLVT shares. Barclays reduced their price target on shares of Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Citigroup lowered their price target on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research note on Wednesday, June 24th. Wall Street Zen lowered Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Stifel Nicolaus reduced their price objective on Clarivate from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $3.02.
View Our Latest Stock Analysis on CLVT
Clarivate Company Profile
Clarivate Plc (NYSE: CLVT) provides information, analytics and workflow solutions for organizations operating in research, academia, intellectual property and the life sciences. Its products are designed to help customers discover and evaluate research, manage intellectual-property portfolios, assess scientific and commercial opportunities, and support evidence-based decision-making.
The company’s offerings include Web of Science research and citation databases, InCites research analytics, Derwent patent information, Cortellis life-sciences intelligence, and CompuMark trademark and brand-protection solutions.
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