Sasco Capital Inc. CT Sells 585,550 Shares of Clarivate Plc (NYSE:CLVT)

Sasco Capital Inc. CT lessened its holdings in Clarivate Plc (NYSE:CLVT - Free Report) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,543,340 shares of the company's stock after selling 585,550 shares during the quarter. Clarivate makes up 3.8% of Sasco Capital Inc. CT's holdings, making the stock its 5th largest holding. Sasco Capital Inc. CT owned about 0.49% of Clarivate worth $25,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in Clarivate in the second quarter worth approximately $26,000. Evermay Wealth Management LLC purchased a new position in shares of Clarivate during the first quarter valued at $31,000. Truist Financial Corp bought a new stake in shares of Clarivate in the second quarter valued at about $63,000. KBC Group NV raised its holdings 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 acquiring an additional 2,549 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in Clarivate in the second quarter worth about $75,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insider Transactions at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the business's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bar Veinstein sold 120,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. This represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,646 shares of company stock worth $1,379,111. Insiders own 23.14% of the company's stock.

Clarivate Stock Up 5.4 %

CLVT traded up $0.25 during trading on Tuesday, hitting $4.87. The stock had a trading volume of 8,632,493 shares, compared to its average volume of 4,469,717. The stock has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $6.16. 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 twelve month low of $4.25 and a twelve month high of $9.60. The company has a market capitalization of $3.46 billion, a PE ratio of -2.45 and a beta of 1.18.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, November 7th. 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 note 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 analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.25.

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.