Raymond James Trust N.A. Sells 131,067 Shares of Clarivate Plc (NYSE:CLVT)

Raymond James Trust N.A. trimmed its stake in Clarivate Plc (NYSE:CLVT - Free Report) by 57.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,637 shares of the company's stock after selling 131,067 shares during the quarter. Raymond James Trust N.A.'s holdings in Clarivate were worth $686,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Clarivate by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company's stock valued at $32,692,000 after purchasing an additional 38,355 shares in the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Clarivate by 2.9% in the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company's stock valued at $686,000 after buying an additional 2,696 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Clarivate in the third quarter valued at approximately $101,000. OneDigital Investment Advisors LLC lifted its position in shares of Clarivate by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company's stock valued at $900,000 after buying an additional 2,865 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Clarivate by 33.2% in the third 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 during the last quarter. 85.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were bought at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the purchase, the director now owns 1,500,000 shares in the company, valued at approximately $7,665,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The trade was a 42.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock valued at $1,379,111 in the last three months. Corporate insiders own 23.14% of the company's stock.

Clarivate Stock Performance

NYSE:CLVT traded down $0.15 during mid-day trading on Tuesday, hitting $5.60. 6,814,045 shares of the stock were exchanged, compared to its average volume of 4,541,682. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -2.80 and a beta of 1.18. The firm's 50-day simple moving average is $6.17 and its 200 day simple moving average is $6.11. 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 Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60.

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, hitting the consensus estimate of $0.19. The business had revenue of $622.20 million during the quarter, compared to analysts' expectations of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. As a group, equities analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLVT. Royal Bank of Canada cut their price objective on Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. Barclays cut their price objective on Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, November 7th. Finally, William Blair cut Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $7.25.

Clarivate 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.