Cerity Partners LLC Has $1.44 Million Stock Holdings in Clarivate Plc (NYSE:CLVT)

Cerity Partners LLC boosted its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 82.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202,204 shares of the company's stock after buying an additional 91,384 shares during the quarter. Cerity Partners LLC's holdings in Clarivate were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in Clarivate in the 2nd quarter worth $26,000. Truist Financial Corp bought a new position in Clarivate in the 2nd quarter worth $63,000. KBC Group NV raised its holdings in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company's stock worth $73,000 after purchasing an additional 2,549 shares in the last quarter. Forum Financial Management LP bought a new position in Clarivate in the 2nd quarter worth $75,000. Finally, Headlands Technologies LLC grew its position in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after buying an additional 12,909 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Clarivate Stock Up 0.5 %

CLVT stock traded up $0.03 during trading on Wednesday, hitting $5.75. 4,193,438 shares of the stock traded hands, compared to its average volume of 4,551,072. Clarivate Plc has a 1 year low of $4.25 and a 1 year high of $9.60. The firm's 50 day moving average is $6.04 and its two-hundred day moving average is $6.09. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -2.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 last year, the firm posted $0.18 EPS. The business's quarterly revenue was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Clarivate Plc will post 0.63 EPS for the current year.

Insider Transactions at Clarivate

In related news, Director Michael J. Angelakis acquired 765,000 shares of the stock in a transaction on Friday, November 22nd. The shares were acquired at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares of the company's stock, valued at approximately $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. William Blair downgraded shares of Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. 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 research report on Thursday, November 7th. Finally, Royal Bank of Canada reduced their target price on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $7.25.

Clarivate Company Profile

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.