Apollon Wealth Management LLC Cuts Stock Position in Clarivate Plc (NYSE:CLVT)

Apollon Wealth Management LLC cut its holdings in Clarivate Plc (NYSE:CLVT) by 37.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,926 shares of the company’s stock after selling 6,489 shares during the quarter. Apollon Wealth Management LLC’s holdings in Clarivate were worth $78,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Clarivate in the second quarter valued at $1,410,000. Capital World Investors purchased a new position in shares of Clarivate in the first quarter valued at $30,104,000. Boston Partners lifted its position in Clarivate by 76.3% in the first quarter. Boston Partners now owns 557,496 shares of the company’s stock worth $4,140,000 after buying an additional 241,292 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in Clarivate in the second quarter worth $2,251,000. Finally, Raymond James & Associates lifted its position in Clarivate by 19.0% in the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after buying an additional 1,157,976 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada lowered their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.25.

Insider Transactions at Clarivate

In related news, 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 value 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 $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,646 shares of company stock worth $1,379,111. Insiders own 22.77% of the company’s stock.

Clarivate Trading Up 6.7 %

NYSE CLVT opened at $4.62 on Tuesday. The company’s 50-day moving average price is $6.30 and its 200-day moving average price is $6.16. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.28 billion, a PE ratio of -2.32 and a beta of 1.18. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The firm had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.18 earnings per share. Equities research analysts forecast that Clarivate Plc will post 0.63 earnings per share 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.