Public Employees Retirement System of Ohio Makes New $1.07 Million Investment in Clarivate Plc (NYSE:CLVT)

Public Employees Retirement System of Ohio bought a new stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 150,973 shares of the company's stock, valued at approximately $1,072,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baupost Group LLC MA grew its stake in shares of Clarivate by 27.2% in 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 last quarter. Dimensional Fund Advisors LP lifted its stake in Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company's stock worth $83,945,000 after acquiring an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in Clarivate by 31.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company's stock valued at $55,344,000 after acquiring an additional 2,332,388 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in Clarivate by 37.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company's stock valued at $35,558,000 after purchasing an additional 1,704,761 shares during the period. Finally, Clearline Capital LP raised its holdings in Clarivate by 141.2% in the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company's stock worth $11,883,000 after purchasing an additional 1,222,646 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael J. Angelakis bought 1,500,000 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the transaction, the director now owns 1,500,000 shares of the company's stock, valued at approximately $7,665,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the sale, the insider now directly owns 916,583 shares of the company's stock, valued at $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. 23.14% of the stock is owned by insiders.

Clarivate Stock Up 1.6 %

Clarivate stock traded up $0.08 during trading hours on Friday, hitting $4.98. The stock had a trading volume of 6,610,482 shares, compared to its average volume of 4,601,417. The stock's 50-day moving average price is $5.68 and its 200-day moving average price is $6.05. The stock has a market capitalization of $3.54 billion, a P/E ratio of -2.50 and a beta of 1.12. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts' consensus estimates of $0.19. The business had revenue of $622.20 million during the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities research analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Clarivate declared that its board has authorized a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 12.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. William Blair downgraded shares of Clarivate from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 6th. Barclays decreased their price objective on Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a report on Thursday, November 7th. Finally, Royal Bank of Canada dropped their target price on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $7.10.

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.