Brown Brothers Harriman & Co. Acquires 1,704,761 Shares of Clarivate Plc (NYSE:CLVT)

Brown Brothers Harriman & Co. grew its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 37.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,249,260 shares of the company's stock after buying an additional 1,704,761 shares during the period. Brown Brothers Harriman & Co. owned 0.94% of Clarivate worth $35,558,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CLVT. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company's stock worth $168,000 after purchasing an additional 1,580 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in Clarivate by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company's stock worth $1,933,000 after acquiring an additional 2,040 shares during the last quarter. Arizona State Retirement System increased its stake in Clarivate by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 84,172 shares of the company's stock worth $479,000 after acquiring an additional 2,064 shares during the last quarter. Ironwood Investment Counsel LLC increased its stake in Clarivate by 3.5% in the 1st quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company's stock worth $566,000 after acquiring an additional 2,575 shares during the last quarter. Finally, Evermay Wealth Management LLC bought a new position in Clarivate in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insiders Place Their Bets

In other news, Director Saurabh Saha sold 17,646 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Saurabh Saha sold 17,646 shares of the company's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares in the company, valued at $160,251.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Miles Snyder acquired 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the transaction, 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. Corporate insiders own 22.77% of the company's stock.

Clarivate Stock Up 1.7 %

Shares of CLVT traded up $0.11 on Monday, reaching $6.68. The stock had a trading volume of 4,006,004 shares, compared to its average volume of 4,356,044. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of -4.02, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. 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 has a 50-day simple moving average of $6.37 and a 200-day simple moving average of $6.45. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The company had revenue of $650.30 million during the quarter, compared to analysts' expectations of $651.94 million. During the same quarter last year, the business posted $0.16 EPS. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Clarivate Plc will post 0.64 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CLVT. Royal Bank of Canada decreased their target price on 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 target price on Clarivate from $6.00 to $5.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 7th. Two research 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. According to MarketBeat, Clarivate currently has a consensus rating of "Hold" and an average target price of $7.75.

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.