Raymond James Trust N.A. Sells 131,067 Shares of Clarivate Plc (NYSE:CLVT)

Raymond James Trust N.A. reduced its stake in Clarivate Plc (NYSE:CLVT) by 57.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,637 shares of the company’s stock after selling 131,067 shares during the period. Raymond James Trust N.A.’s holdings in Clarivate were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Baupost Group LLC MA lifted its holdings in Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after acquiring an additional 2,332,388 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Clarivate by 37.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares in the last quarter. Finally, Clearline Capital LP increased its stake in shares of Clarivate by 141.2% in the second quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock valued at $11,883,000 after buying an additional 1,222,646 shares in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael J. Angelakis purchased 1,500,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the purchase, the director now directly owns 1,500,000 shares of the company’s stock, valued at $7,665,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock worth $1,379,111 over the last ninety days. 23.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several research analyst reports. Royal Bank of Canada dropped 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 report on Thursday, November 7th. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Clarivate Stock Up 9.3 %

Clarivate stock opened at $5.74 on Tuesday. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of -2.88 and a beta of 1.18. The company’s 50 day simple moving average is $6.17 and its 200 day simple moving average is $6.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $622.20 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.18 EPS. As a group, sell-side analysts anticipate that Clarivate Plc will post 0.63 EPS for the current year.

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.