Clarkston Capital Partners LLC Sells 1,407,380 Shares of Clarivate Plc (NYSE:CLVT)

Clarkston Capital Partners LLC decreased its position in Clarivate Plc (NYSE:CLVT) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,414,296 shares of the company’s stock after selling 1,407,380 shares during the period. Clarivate makes up 8.5% of Clarkston Capital Partners LLC’s holdings, making the stock its biggest holding. Clarkston Capital Partners LLC owned about 0.09% of Clarivate worth $464,442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CLVT. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate during the second quarter worth about $26,000. Evermay Wealth Management LLC purchased a new stake in shares of Clarivate during the 1st quarter valued at approximately $31,000. Truist Financial Corp purchased a new stake in shares of Clarivate during the 2nd quarter valued at approximately $63,000. KBC Group NV lifted its stake in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in shares of Clarivate during the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Insider Activity at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s 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 sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,646 shares of company stock valued at $1,379,111 in the last three months. Company insiders own 22.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CLVT. Royal Bank of Canada decreased 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 reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Trading Down 3.8 %

NYSE:CLVT opened at $4.33 on Monday. The company has a 50-day moving average price of $6.34 and a 200-day moving average price of $6.18. Clarivate Plc has a 12 month low of $4.33 and a 12 month high of $9.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -2.18 and a beta of 1.18.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. During the same period last year, the company posted $0.18 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities analysts predict that Clarivate Plc will post 0.63 EPS for the current 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.