Raymond James & Associates Reduces Position in Clarivate Plc (NYSE:CLVT)

Raymond James & Associates lowered its stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 35.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,646,510 shares of the company's stock after selling 2,598,280 shares during the quarter. Raymond James & Associates owned about 0.70% of Clarivate worth $32,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in CLVT. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Clarivate by 21.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company's stock valued at $254,000 after buying an additional 6,284 shares during the last quarter. Creative Planning purchased a new stake in Clarivate in the third quarter valued at about $142,000. Handelsbanken Fonder AB raised its stake in Clarivate by 18.6% in the third quarter. Handelsbanken Fonder AB now owns 114,100 shares of the company's stock valued at $810,000 after buying an additional 17,900 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Clarivate in the second quarter valued at about $258,000. Finally, Truist Financial Corp purchased a new stake in Clarivate in the second quarter valued at about $63,000. Institutional investors own 85.72% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CLVT. Barclays reduced their price objective on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price objective 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 equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Clarivate currently has a consensus rating of "Hold" and a consensus target price of $7.58.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company's stock, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Andrew Miles Snyder acquired 28,938 shares of the firm's stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the acquisition, the director now owns 288,334 shares of the company's stock, valued at approximately $1,582,953.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the company's 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 sale, the director now directly owns 23,741 shares of the company's stock, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. Company insiders own 22.77% of the company's stock.

Clarivate Stock Performance

CLVT stock traded down $0.06 during trading on Thursday, hitting $6.47. 1,999,609 shares of the company traded hands, compared to its average volume of 4,161,578. The stock's 50-day simple moving average is $6.67 and its 200 day simple moving average is $6.36. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market cap of $4.32 billion, a PE ratio of -3.90 and a beta of 1.17. Clarivate Plc has a 1 year low of $4.97 and a 1 year high of $9.60.

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

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.