Headlands Technologies LLC Acquires 12,909 Shares of Clarivate Plc (NYSE:CLVT)

Headlands Technologies LLC lifted its stake in Clarivate Plc (NYSE:CLVT) by 749.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,632 shares of the company’s stock after purchasing an additional 12,909 shares during the quarter. Headlands Technologies LLC’s holdings in Clarivate were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLVT. Nisa Investment Advisors LLC purchased a new position in Clarivate in the 2nd quarter worth about $26,000. Evermay Wealth Management LLC bought a new position in Clarivate in the 1st quarter worth $31,000. Forum Financial Management LP purchased a new position in Clarivate during the second quarter valued at $75,000. J.W. Cole Advisors Inc. bought a new position in shares of Clarivate in the first quarter worth about $76,000. Finally, Transcend Capital Advisors LLC purchased a new position in shares of Clarivate during the 2nd quarter valued at about $86,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Insider Buying and Selling at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred on Friday, August 30th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of Clarivate 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 completion of the transaction, the director now directly owns 23,741 shares in the company, valued at $160,251.75. The disclosure for this sale can be found here. Insiders own 22.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CLVT. Royal Bank of Canada cut their price target 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. Barclays decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Clarivate has an average rating of “Hold” and a consensus price target of $7.75.

Clarivate Stock Up 1.7 %

Shares of CLVT opened at $6.68 on Tuesday. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60. The firm has a fifty day moving average price of $6.37 and a 200-day moving average price of $6.45. The firm has a market capitalization of $4.46 billion, a P/E ratio of -4.02, a P/E/G ratio of 3.24 and a beta of 1.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share 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 analyst estimates of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. Clarivate’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. Equities research analysts expect that Clarivate Plc will post 0.64 earnings per share for the current year.

Clarivate 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.