Edgestream Partners L.P. Acquires 578,430 Shares of Clarivate Plc (NYSE:CLVT)

Edgestream Partners L.P. lifted its stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 800.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 650,660 shares of the company's stock after acquiring an additional 578,430 shares during the period. Edgestream Partners L.P. owned 0.10% of Clarivate worth $3,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CLVT. SG Americas Securities LLC acquired a new stake in Clarivate in the second quarter valued at approximately $1,410,000. Edmond DE Rothschild Holding S.A. acquired a new position in Clarivate during the fourth quarter worth $25,576,000. Glenview Capital Management LLC lifted its stake in shares of Clarivate by 22.2% in the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company's stock valued at $228,269,000 after buying an additional 4,472,302 shares in the last quarter. Capital World Investors acquired a new position in shares of Clarivate during the first quarter valued at about $30,104,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Clarivate during the first quarter worth about $18,389,000. 85.72% of the stock is owned by institutional investors.

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.18 during mid-day trading on Wednesday, reaching $6.82. 3,124,806 shares of the company's stock were exchanged, compared to its average volume of 4,337,151. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of -4.11, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The firm has a 50-day moving average price of $6.39 and a two-hundred day moving average price of $6.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results 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. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The firm had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. During the same period in the prior year, the firm earned $0.16 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Analysts predict that Clarivate Plc will post 0.64 EPS for the current year.

Insider Activity

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the purchase, the director now directly owns 288,334 shares of the company's stock, valued at $1,582,953.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of the 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 sale, the director now directly owns 23,741 shares of the company's stock, valued at $160,251.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 cost of $5.49 per share, with a total value of $158,869.62. Following 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. Insiders own 22.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays cut their price target on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their price target on Clarivate from $8.00 to $7.00 and set a "sector perform" rating for the company 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.