Hsbc Holdings PLC Purchases New Stake in Clarivate Plc (NYSE:CLVT)

Hsbc Holdings PLC bought a new stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 591,096 shares of the company's stock, valued at approximately $3,346,000. Hsbc Holdings PLC owned about 0.09% of Clarivate as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Edgestream Partners L.P. boosted its stake in shares of Clarivate by 800.8% during the 2nd quarter. Edgestream Partners L.P. now owns 650,660 shares of the company's stock worth $3,702,000 after purchasing an additional 578,430 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock worth $83,945,000 after acquiring an additional 2,409,470 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Clarivate by 37.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company's stock worth $35,558,000 after acquiring an additional 1,704,761 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock valued at $55,344,000 after acquiring an additional 2,332,388 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its holdings in Clarivate by 27.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 344,577 shares of the company's stock valued at $1,961,000 after acquiring an additional 74,412 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insider Buying and Selling at Clarivate

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 value of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares of the company's stock, valued at $6,836,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Andrew Miles Snyder acquired 28,938 shares of the firm'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 transaction, the director now directly owns 288,334 shares in the company, valued at approximately $1,582,953.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the sale, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by corporate insiders.

Clarivate Trading Up 2.8 %

Shares of NYSE CLVT traded up $0.19 during midday trading on Thursday, hitting $6.87. The stock had a trading volume of 2,108,133 shares, compared to its average volume of 4,292,634. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate Plc has a 1-year low of $4.97 and a 1-year high of $9.60. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -4.14 and a beta of 1.17. The company has a fifty day moving average price of $6.51 and a 200 day moving average price of $6.44.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Clarivate's revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Clarivate Plc will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

CLVT has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a research report 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 report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Clarivate presently has a consensus rating of "Hold" and a consensus target price of $7.75.

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.