Wealth Enhancement Advisory Services LLC Has $297,000 Stake in Clarivate Plc (NYSE:CLVT)

Wealth Enhancement Advisory Services LLC boosted its holdings in Clarivate Plc (NYSE:CLVT) by 19.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,229 shares of the company’s stock after purchasing an additional 8,430 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Clarivate were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Exor N.V. grew its holdings in shares of Clarivate by 102.4% in the 4th quarter. Exor N.V. now owns 65,728,365 shares of the company’s stock valued at $608,645,000 after acquiring an additional 33,256,346 shares in the last quarter. Norges Bank acquired a new position in Clarivate during the fourth quarter valued at approximately $54,457,000. Baupost Group LLC MA boosted its position in Clarivate by 20.0% during the first quarter. Baupost Group LLC MA now owns 30,598,402 shares of the company’s stock valued at $227,346,000 after purchasing an additional 5,098,402 shares during the last quarter. Glenview Capital Management LLC grew its stake in Clarivate by 22.2% in the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Clarivate during the 1st quarter worth approximately $30,104,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on CLVT. Barclays cut their price target on shares of 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 cut their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lowered their price target on Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.75.

Insider Buying and Selling at Clarivate

In related news, Director Andrew Miles Snyder purchased 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 22.77% of the company’s stock.

Clarivate Stock Performance

CLVT opened at $6.65 on Monday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $6.69. Clarivate Plc has a 1 year low of $4.97 and a 1 year high of $9.60. The company has a market capitalization of $4.44 billion, a PE ratio of -4.01, a price-to-earnings-growth ratio of 4.38 and a beta of 1.15.

Clarivate (NYSE:CLVT) last announced its 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. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. The company had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. Clarivate’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts expect that Clarivate Plc will post 0.62 EPS for the current year.

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.