Barclays PLC cut its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 46.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 120,218 shares of the company's stock after selling 102,591 shares during the quarter. Barclays PLC's holdings in Clarivate were worth $854,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Truist Financial Corp bought a new position in Clarivate during the second quarter worth about $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 worth $73,000 after buying an additional 2,549 shares during the last quarter. MQS Management LLC bought a new stake in shares of Clarivate during the 2nd quarter worth about $91,000. Pitcairn Co. acquired a new position in Clarivate in the 3rd quarter valued at about $100,000. Finally, Empowered Funds LLC acquired a new stake in Clarivate during the third quarter worth approximately $101,000. Institutional investors and hedge funds own 85.72% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. William Blair downgraded shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Barclays reduced their target price on Clarivate from $5.00 to $4.00 and set an "underweight" rating on the stock in a report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their target price on Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Clarivate has a consensus rating of "Hold" and a consensus price target of $7.10.
View Our Latest Analysis on Clarivate
Insider Buying and Selling
In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now owns 3,465,000 shares in the company, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 23.14% of the stock is currently owned by corporate insiders.
Clarivate Stock Up 0.5 %
NYSE:CLVT traded up $0.03 during trading hours on Thursday, reaching $5.11. The company had a trading volume of 1,911,727 shares, compared to its average volume of 3,008,382. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The business's 50-day simple moving average is $5.17 and its two-hundred day simple moving average is $5.99. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60.
Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share 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 for the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The business's revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Clarivate Plc will post 0.63 earnings per share for the current year.
Clarivate declared that its board has authorized a stock repurchase program on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.
About Clarivate
(
Free Report)
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.
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