Baupost Group LLC MA Has $221.51 Million Stock Holdings in Clarivate Plc (NYSE:CLVT)

Baupost Group LLC MA lifted its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 27.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,929,635 shares of the company's stock after acquiring an additional 8,331,233 shares during the quarter. Clarivate makes up approximately 6.1% of Baupost Group LLC MA's portfolio, making the stock its 5th biggest position. Baupost Group LLC MA owned 5.83% of Clarivate worth $221,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in Clarivate in the second quarter valued at $26,000. Evermay Wealth Management LLC acquired a new stake in Clarivate during the 1st quarter valued at approximately $31,000. Forum Financial Management LP acquired a new position in shares of Clarivate in the 2nd quarter worth approximately $75,000. J.W. Cole Advisors Inc. bought a new stake in shares of Clarivate in the 1st quarter valued at $76,000. Finally, Headlands Technologies LLC boosted its stake in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock valued at $83,000 after purchasing an additional 12,909 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut 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. Royal Bank of Canada decreased their target price on Clarivate from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Clarivate presently has a consensus rating of "Hold" and a consensus target price of $7.75.

Clarivate Stock Down 0.4 %

CLVT stock traded down $0.03 during midday trading on Friday, reaching $6.94. 4,865,009 shares of the company's stock traded hands, compared to its average volume of 4,334,873. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. The firm's fifty day moving average price is $6.47 and its 200-day moving average price is $6.45. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -4.18, a P/E/G ratio of 3.24 and a beta of 1.17.

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

Insider Transactions at Clarivate

In related 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 transaction 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. The transaction was disclosed in a legal filing 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 stock in a transaction that occurred 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 directly owns 23,741 shares of the company's stock, valued at $160,251.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Miles Snyder acquired 28,938 shares of the business's stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $5.49 per share, for a total transaction 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. Company insiders own 22.77% of the company's stock.

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.