Fmr LLC Purchases 401,920 Shares of Clarivate Plc (NYSE:CLVT)

FMR LLC lifted its position in Clarivate Plc (NYSE:CLVT - Free Report) by 8.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,088,942 shares of the company's stock after buying an additional 401,920 shares during the quarter. FMR LLC owned about 0.72% of Clarivate worth $36,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CLVT. Baupost Group LLC MA grew its stake in shares of Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company's stock valued at $221,510,000 after buying an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock valued at $83,945,000 after buying an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the period. Brown Brothers Harriman & Co. boosted its position in Clarivate by 37.5% during the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company's stock worth $35,558,000 after purchasing an additional 1,704,761 shares during the period. Finally, Clearline Capital LP boosted its position in Clarivate by 141.2% during the second quarter. Clearline Capital LP now owns 2,088,422 shares of the company's stock worth $11,883,000 after purchasing an additional 1,222,646 shares during the period. 85.72% of the stock is owned by institutional investors.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis bought 765,000 shares of the firm's stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the transaction, the director now directly owns 3,465,000 shares in the company, valued at approximately $17,983,350. The trade was a 28.33 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. 23.14% of the stock is owned by insiders.

Clarivate Stock Performance

Shares of CLVT traded down $0.07 during midday trading on Monday, reaching $5.65. 8,466,465 shares of the stock were exchanged, compared to its average volume of 4,587,143. The company has a market cap of $4.01 billion, a P/E ratio of -2.84 and a beta of 1.12. The stock's 50 day simple moving average is $5.97 and its 200 day simple moving average is $6.09. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. Clarivate's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 earnings per share. On average, sell-side analysts expect that Clarivate Plc will post 0.63 earnings per share for the current year.

Analysts Set New Price Targets

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