State Street Corp Sells 110,321 Shares of Clarivate Plc (NYSE:CLVT)

State Street Corp cut its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,370,609 shares of the company's stock after selling 110,321 shares during the quarter. State Street Corp owned 1.04% of Clarivate worth $52,331,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CLVT. Repertoire Partners LP raised its holdings in shares of Clarivate by 139.2% in the 3rd quarter. Repertoire Partners LP now owns 76,329 shares of the company's stock worth $542,000 after purchasing an additional 44,413 shares in the last quarter. Clearline Capital LP increased its holdings in shares of Clarivate by 7.6% in the third quarter. Clearline Capital LP now owns 2,247,322 shares of the company's stock valued at $15,956,000 after buying an additional 158,900 shares in the last quarter. Josh Arnold Investment Consultant LLC bought a new position in shares of Clarivate in the third quarter valued at $604,000. Verition Fund Management LLC boosted its stake in shares of Clarivate by 707.5% during the 3rd quarter. Verition Fund Management LLC now owns 157,540 shares of the company's stock worth $1,119,000 after acquiring an additional 138,031 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Clarivate in the 3rd quarter worth $440,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Insider Transactions at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 765,000 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the purchase, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. This trade represents a 28.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now directly owns 916,583 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Clarivate Stock Up 1.6 %

NYSE CLVT traded up $0.08 during trading on Friday, reaching $4.98. 6,610,482 shares of the company's stock were exchanged, compared to its average volume of 4,601,417. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The company's fifty day simple moving average is $5.72 and its 200-day simple moving average is $6.05. The firm has a market capitalization of $3.54 billion, a PE ratio of -2.50 and a beta of 1.12.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting analysts' consensus estimates of $0.19. The firm had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm's revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 earnings per share. Sell-side analysts predict that Clarivate Plc will post 0.63 EPS for the current year.

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

Analysts Set New Price Targets

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

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.