Clearline Capital LP Purchases 1,222,646 Shares of Clarivate Plc (NYSE:CLVT)

Clearline Capital LP raised its stake in Clarivate Plc (NYSE:CLVT - Free Report) by 141.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,088,422 shares of the company's stock after purchasing an additional 1,222,646 shares during the period. Clarivate accounts for approximately 0.3% of Clearline Capital LP's investment portfolio, making the stock its 29th biggest position. Clearline Capital LP owned approximately 0.31% of Clarivate worth $11,883,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CLVT. Nisa Investment Advisors LLC bought a new position in shares of Clarivate in the second quarter valued at about $26,000. Evermay Wealth Management LLC bought a new position in shares of Clarivate in the first quarter valued at about $31,000. Forum Financial Management LP bought a new position in shares of Clarivate in the second quarter valued at about $75,000. J.W. Cole Advisors Inc. bought a new position in Clarivate during the first quarter worth about $76,000. Finally, Headlands Technologies LLC increased its position in Clarivate by 749.2% during the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company's stock worth $83,000 after acquiring an additional 12,909 shares during the period. 85.72% of the stock is owned by institutional investors.

Clarivate Price Performance

Clarivate stock traded up $0.08 during trading hours on Friday, reaching $6.96. 3,474,620 shares of the stock were exchanged, compared to its average volume of 4,293,089. The company has a market cap of $4.65 billion, a P/E ratio of -4.19 and a beta of 1.17. 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 Plc has a twelve month low of $4.97 and a twelve month high of $9.60. The stock has a 50 day moving average of $6.52 and a two-hundred day moving average of $6.43.

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

Insider Activity

In other news, Director Saurabh Saha sold 17,646 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $160,251.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Bar Veinstein sold 120,000 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The shares were 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 approximately $6,836,081. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were 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 disclosure for this sale can be found here. 22.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CLVT has been the topic of a number of recent research reports. Barclays lowered 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 lowered 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.71.

About Clarivate

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.