River Road Asset Management LLC Lowers Holdings in Clarivate Plc (NYSE:CLVT)

River Road Asset Management LLC lowered its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,794,995 shares of the company's stock after selling 1,080,426 shares during the quarter. River Road Asset Management LLC owned about 0.66% of Clarivate worth $34,044,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Clarivate by 5.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company's stock valued at $168,000 after buying an additional 1,580 shares during the period. Arizona State Retirement System lifted its position in Clarivate by 2.5% during the second quarter. Arizona State Retirement System now owns 84,172 shares of the company's stock valued at $479,000 after buying an additional 2,064 shares during the period. Ironwood Investment Counsel LLC increased its holdings in shares of Clarivate by 3.5% during the first quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company's stock valued at $566,000 after acquiring an additional 2,575 shares in the last quarter. Evermay Wealth Management LLC bought a new position in shares of Clarivate during the first quarter valued at $31,000. Finally, Nisa Investment Advisors LLC bought a new position in shares of Clarivate during the second quarter valued at $26,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, 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 transaction was disclosed in a filing 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 shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the transaction, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,646 shares of company stock worth $1,379,111 in the last three months. 23.14% of the stock is currently owned by company insiders.

Clarivate Stock Performance

NYSE CLVT traded up $0.14 during trading hours on Tuesday, hitting $6.59. The company's stock had a trading volume of 4,451,845 shares, compared to its average volume of 4,111,878. Clarivate Plc has a 12 month low of $4.97 and a 12 month high of $9.60. The company's 50 day simple moving average is $6.68 and its two-hundred day simple moving average is $6.32. The company has a market cap of $4.77 billion, a P/E ratio of -3.42 and a beta of 1.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90.

Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results 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 business 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 quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.16 EPS. As a group, sell-side analysts expect that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLVT. Royal Bank of Canada reduced 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. Barclays reduced their price target on Clarivate from $6.00 to $5.00 and set an "underweight" rating for the company in a report 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 assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $7.58.

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.