BNP Paribas Financial Markets Cuts Stock Holdings in Clarivate Plc (NYSE:CLVT)

BNP Paribas Financial Markets reduced its holdings in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 65.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182,565 shares of the company's stock after selling 348,914 shares during the period. BNP Paribas Financial Markets' holdings in Clarivate were worth $1,296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate during the 2nd quarter valued at $26,000. Truist Financial Corp bought a new position in Clarivate in the 2nd quarter worth approximately $63,000. KBC Group NV grew its holdings in 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. Forum Financial Management LP bought a new stake in shares of Clarivate during the second quarter valued at approximately $75,000. Finally, Headlands Technologies LLC lifted its holdings in shares of Clarivate by 749.2% in the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after buying an additional 12,909 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insider Transactions at Clarivate

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the purchase, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now owns 916,583 shares in the company, 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. Company insiders own 22.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CLVT shares. Barclays reduced their price target 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. Royal Bank of Canada dropped their price target 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. Finally, William Blair downgraded Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $7.25.

Clarivate Trading Down 3.5 %

CLVT stock traded down $0.20 during midday trading on Tuesday, reaching $5.46. 7,761,832 shares of the company traded hands, compared to its average volume of 4,600,481. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -2.74 and a beta of 1.12. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60. The business has a 50 day moving average of $5.94 and a 200-day moving average of $6.08. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same quarter in the prior year, the firm posted $0.18 EPS. Clarivate's quarterly revenue was down 3.9% compared to the same quarter last year. As a group, sell-side 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.