Pitcairn Co. Acquires Shares of 14,016 Clarivate Plc (NYSE:CLVT)

Pitcairn Co. acquired a new stake in Clarivate Plc (NYSE:CLVT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 14,016 shares of the company’s stock, valued at approximately $100,000.

Several other large investors also recently bought and sold shares of CLVT. Baupost Group LLC MA grew its position in shares of Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the last quarter. Raymond James & Associates lifted its stake in Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after purchasing an additional 1,157,976 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Clarivate by 37.5% during the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock worth $35,558,000 after purchasing an additional 1,704,761 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at Clarivate

In other news, Director Michael J. Angelakis bought 1,500,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the acquisition, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. The trade was a ∞ increase 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, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares in the company, valued at approximately $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 22.77% of the company’s stock.

Clarivate Price Performance

Shares of NYSE CLVT opened at $5.76 on Friday. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The firm’s 50-day simple moving average is $6.13 and its 200 day simple moving average is $6.11. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The stock has a market cap of $4.09 billion, a P/E ratio of -2.89 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The business had revenue of $622.20 million for the quarter, compared to analysts’ expectations of $640.81 million. During the same period in the previous year, the business earned $0.18 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. Equities analysts expect 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.