Clarkston Capital Partners LLC Lowers Stock Holdings in Clarivate Plc (NYSE:CLVT)

Clarkston Capital Partners LLC trimmed its holdings in Clarivate Plc (NYSE:CLVT - Free Report) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,414,296 shares of the company's stock after selling 1,407,380 shares during the period. Clarivate comprises approximately 8.5% of Clarkston Capital Partners LLC's holdings, making the stock its largest holding. Clarkston Capital Partners LLC owned about 9.03% of Clarivate worth $464,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sei Investments Co. grew its holdings in Clarivate by 391.8% during the first quarter. Sei Investments Co. now owns 72,571 shares of the company's stock worth $539,000 after acquiring an additional 57,815 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Clarivate by 2.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 450,062 shares of the company's stock worth $3,344,000 after acquiring an additional 11,052 shares during the period. Edgestream Partners L.P. acquired a new position in Clarivate during the first quarter worth about $537,000. Evermay Wealth Management LLC acquired a new position in Clarivate during the first quarter worth about $31,000. Finally, Capital World Investors acquired a new position in Clarivate during the first quarter worth about $30,104,000. 85.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Bar Veinstein sold 120,000 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares of the company's stock, valued at $6,836,081. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company's stock, valued at $160,251.75. This represents a 42.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock worth $1,379,111 over the last ninety days. 22.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Clarivate Trading Up 6.7 %

Shares of CLVT stock traded up $0.29 on Monday, reaching $4.62. 13,912,313 shares of the stock were exchanged, compared to its average volume of 4,451,045. The stock has a 50 day moving average price of $6.30 and a 200 day moving average price of $6.16. The stock has a market cap of $3.28 billion, a PE ratio of -2.32 and a beta of 1.18. 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 Plc has a one year low of $4.25 and a one year high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting 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 business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The firm's revenue was down 3.9% on a year-over-year basis. Equities research analysts forecast that Clarivate Plc will post 0.63 EPS for the current fiscal year.

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.