Bank of New York Mellon Corp Has $12.76 Million Stock Holdings in Clarivate Plc (NYSE:CLVT)

Bank of New York Mellon Corp decreased its holdings in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 32.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,241,837 shares of the company's stock after selling 1,061,594 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Clarivate worth $12,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in Clarivate in the 2nd quarter valued at $26,000. Evermay Wealth Management LLC acquired a new position in shares of Clarivate during the 1st quarter worth about $31,000. J.W. Cole Advisors Inc. acquired a new position in shares of Clarivate during the 1st quarter worth about $76,000. Transcend Capital Advisors LLC acquired a new stake in Clarivate in the 2nd quarter valued at approximately $86,000. Finally, TFO Wealth Partners LLC increased its position in Clarivate by 1,590,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 15,901 shares of the company's stock worth $147,000 after buying an additional 15,900 shares during the period. Institutional investors own 85.72% of the company's stock.

Clarivate Price Performance

Shares of NYSE:CLVT traded down $0.02 during midday trading on Monday, reaching $6.65. 3,666,268 shares of the company's stock were exchanged, compared to its average volume of 4,382,168. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90. The company's 50 day simple moving average is $6.28 and its two-hundred day simple moving average is $6.50. Clarivate Plc has a 12 month low of $4.97 and a 12 month high of $9.60. The firm has a market capitalization of $4.82 billion, a PE ratio of -4.01, a price-to-earnings-growth ratio of 3.32 and a beta of 1.17.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. The company had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Equities research analysts expect that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Clarivate from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research note on Wednesday, August 7th. Barclays decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.75.

Insider Buying and Selling

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction dated Thursday, August 8th. The shares were acquired at an average cost of $5.49 per share, with a total value of $158,869.62. Following the acquisition, the director now directly owns 288,334 shares of the company's stock, valued at $1,582,953.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm's stock in a transaction dated 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 sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Miles Snyder bought 28,938 shares of the company's stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $5.49 per share, with a total value of $158,869.62. Following the completion of the purchase, the director now owns 288,334 shares of the company's stock, valued at approximately $1,582,953.66. The disclosure for this purchase can be found here. 22.77% of the stock is currently owned by corporate insiders.

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.