Maverick Capital Ltd. Has $1.57 Million Position in Clarivate Plc (NYSE:CLVT)

Maverick Capital Ltd. boosted its position in Clarivate Plc (NYSE:CLVT - Free Report) by 401.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 276,515 shares of the company's stock after buying an additional 221,405 shares during the quarter. Maverick Capital Ltd.'s holdings in Clarivate were worth $1,573,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLVT. Exor N.V. grew its position in Clarivate by 2.4% in the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company's stock worth $500,001,000 after purchasing an additional 1,566,519 shares during the last quarter. Baupost Group LLC MA grew its position in Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company's stock worth $221,510,000 after purchasing an additional 8,331,233 shares during the last quarter. Impactive Capital LP grew its position in Clarivate by 0.3% in the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company's stock worth $281,502,000 after purchasing an additional 109,247 shares during the last quarter. Glenview Capital Management LLC grew its position in Clarivate by 22.2% in the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company's stock worth $228,269,000 after purchasing an additional 4,472,302 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, 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 in the company, valued at approximately $1,582,953.66. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew Miles Snyder purchased 28,938 shares of the stock in a transaction dated Thursday, August 8th. The shares were acquired 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 in the company, valued at $1,582,953.66. The disclosure for this purchase can be found here. Insiders own 22.77% of the company's stock.

Clarivate Price Performance

CLVT stock traded up $0.08 during trading on Friday, hitting $6.96. 3,474,620 shares of the stock traded hands, compared to its average volume of 4,293,089. Clarivate Plc has a one year low of $4.97 and a one year high of $9.60. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of -4.19 and a beta of 1.17. The company has a 50 day simple moving average of $6.52 and a 200 day simple moving average of $6.44. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Clarivate from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Wednesday, August 7th. Barclays decreased their target price 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.71.

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.