UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 551,838 Shares of Clarivate Plc (NYSE:CLVT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Clarivate Plc (NYSE:CLVT) by 112.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,426 shares of the company’s stock after purchasing an additional 551,838 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Clarivate were worth $7,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Clarivate during the 2nd quarter worth approximately $1,410,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Clarivate by 19.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 52,229 shares of the company’s stock worth $297,000 after acquiring an additional 8,430 shares during the period. Cove Street Capital LLC bought a new stake in Clarivate in the 2nd quarter valued at $4,214,000. Raymond James & Associates boosted its stake in Clarivate by 19.0% in the 2nd 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 period. Finally, Nisa Investment Advisors LLC bought a new position in Clarivate during the 2nd quarter worth about $26,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Clarivate news, Director Michael J. Angelakis acquired 1,500,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the transaction, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The trade was a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CLVT. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Barclays dropped their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada decreased their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” 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 issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

NYSE:CLVT opened at $5.65 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day simple moving average is $5.94 and its 200 day simple moving average is $6.08. The company has a market cap of $4.01 billion, a P/E ratio of -2.84 and a beta of 1.12. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.18 earnings per share. As a group, sell-side analysts forecast that Clarivate Plc will post 0.63 EPS for the current fiscal 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.