Barclays PLC Sells 102,591 Shares of Clarivate Plc (NYSE:CLVT)

Barclays PLC lessened its holdings in Clarivate Plc (NYSE:CLVT - Free Report) by 46.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 120,218 shares of the company's stock after selling 102,591 shares during the period. Barclays PLC's holdings in Clarivate were worth $854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in Clarivate during the 3rd quarter valued at approximately $1,072,000. XTX Topco Ltd boosted its position in shares of Clarivate by 22.7% during the third quarter. XTX Topco Ltd now owns 53,674 shares of the company's stock worth $381,000 after acquiring an additional 9,934 shares during the last quarter. Repertoire Partners LP grew its stake in Clarivate by 139.2% during the third quarter. Repertoire Partners LP now owns 76,329 shares of the company's stock valued at $542,000 after acquiring an additional 44,413 shares in the last quarter. Clearline Capital LP increased its holdings in Clarivate by 7.6% in the 3rd quarter. Clearline Capital LP now owns 2,247,322 shares of the company's stock valued at $15,956,000 after acquiring an additional 158,900 shares during the last quarter. Finally, Josh Arnold Investment Consultant LLC purchased a new stake in Clarivate in the 3rd quarter worth $604,000. 85.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Clarivate

In other news, Director Michael J. Angelakis bought 1,500,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the transaction, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company's stock in a transaction 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 completion of the sale, the insider now owns 916,583 shares of the company's stock, valued at $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. William Blair cut Clarivate from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 7th. Finally, Barclays decreased 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.10.

Clarivate Trading Up 0.4 %

Shares of NYSE:CLVT traded up $0.02 during trading hours on Wednesday, hitting $5.08. 2,251,445 shares of the company's stock traded hands, compared to its average volume of 4,547,940. The business has a fifty day moving average price of $5.45 and a 200-day moving average price of $6.02. Clarivate Plc has a 1 year low of $4.25 and a 1 year high of $9.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $3.61 billion, a P/E ratio of -2.55 and a beta of 1.12.

Clarivate (NYSE:CLVT - Get Free Report) last released its 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 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%. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. Equities analysts expect that Clarivate Plc will post 0.63 earnings per share for the current year.

Clarivate announced that its board has authorized a share repurchase program on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

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.