Squarepoint Ops LLC Takes Position in Clarivate Plc (NYSE:CLVT)

Squarepoint Ops LLC acquired a new position in shares of Clarivate Plc (NYSE:CLVT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 200,194 shares of the company's stock, valued at approximately $1,139,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Exor N.V. lifted its stake in Clarivate by 2.4% in the first quarter. Exor N.V. now owns 67,294,884 shares of the company's stock valued at $500,001,000 after buying an additional 1,566,519 shares during the period. Baupost Group LLC MA raised its position in shares of Clarivate by 27.2% during the second 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 period. Impactive Capital LP raised its position in shares of Clarivate by 0.3% during the first 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 period. Glenview Capital Management LLC raised its position in shares of Clarivate by 22.2% during the fourth 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 period. Finally, Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 2,409,470 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLVT. Barclays lowered their target price on 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 target price on 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.71.

Clarivate Stock Up 0.6 %

Clarivate stock traded up $0.04 during trading on Friday, hitting $6.66. 2,522,445 shares of the company were exchanged, compared to its average volume of 4,286,065. The business's 50 day moving average is $6.52 and its 200 day moving average is $6.43. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60. The company has a market capitalization of $4.45 billion, a P/E ratio of -4.01 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 (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, beating analysts' consensus estimates of $0.18 by $0.02. The firm had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Analysts predict that Clarivate Plc will post 0.64 earnings per share for the current year.

Insider Buying and Selling at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now owns 976,583 shares of the company's stock, valued at $6,836,081. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 22.77% of the company's stock.

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.