Handelsbanken Fonder AB Increases Stock Position in Clarivate Plc (NYSE:CLVT)

Handelsbanken Fonder AB increased its position in shares of Clarivate Plc (NYSE:CLVT) by 18.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 114,100 shares of the company’s stock after buying an additional 17,900 shares during the period. Handelsbanken Fonder AB’s holdings in Clarivate were worth $810,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Clarivate during the second quarter worth $26,000. Evermay Wealth Management LLC purchased a new stake in Clarivate during the first quarter worth $31,000. Truist Financial Corp purchased a new stake in Clarivate during the second quarter worth $63,000. Forum Financial Management LP purchased a new stake in Clarivate during the second quarter worth $75,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in Clarivate during the first quarter worth $76,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Price Performance

Clarivate stock opened at $6.77 on Friday. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60. The stock has a market cap of $4.90 billion, a P/E ratio of -3.54 and a beta of 1.17. The company has a 50-day moving average price of $6.52 and a 200 day moving average price of $6.41. 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 released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The firm had revenue of $650.30 million during the quarter, compared to analysts’ expectations of $651.94 million. During the same period last year, the business earned $0.16 earnings per share. Clarivate’s revenue was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that Clarivate Plc will post 0.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Barclays reduced their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and a consensus target price of $7.71.

Insider Buying and Selling at Clarivate

In related news, Director Andrew Miles Snyder purchased 28,938 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares in the company, valued at approximately $1,582,953.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Clarivate news, Director Andrew Miles Snyder acquired 28,938 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the acquisition, the director now owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.77% of the company’s stock.

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.