Maverick Capital Ltd. Buys 221,405 Shares of Clarivate Plc (NYSE:CLVT)

Maverick Capital Ltd. grew its stake in Clarivate Plc (NYSE:CLVT) by 401.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,515 shares of the company’s stock after buying an additional 221,405 shares during the quarter. Maverick Capital Ltd.’s holdings in Clarivate were worth $1,573,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Exor N.V. lifted its position in Clarivate by 2.4% in the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company’s stock valued at $500,001,000 after acquiring an additional 1,566,519 shares in the last quarter. Baupost Group LLC MA lifted its holdings in shares of Clarivate by 27.2% in the second 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 in the last quarter. Impactive Capital LP boosted its position in shares of Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock worth $281,502,000 after buying an additional 109,247 shares during the period. Glenview Capital Management LLC grew its holdings in shares of Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock worth $228,269,000 after buying an additional 4,472,302 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

CLVT has been the subject of several research reports. Barclays decreased their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. 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 research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Clarivate currently has an average rating of “Hold” and an average target price of $7.71.

Clarivate Trading Up 1.2 %

NYSE CLVT opened at $6.96 on Friday. The company has a market cap of $5.04 billion, a PE ratio of -4.19 and a beta of 1.17. Clarivate Plc has a 12 month low of $4.97 and a 12 month high of $9.60. The stock has a 50 day moving average of $6.52 and a 200-day moving average of $6.44. 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 announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, equities research analysts anticipate that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clarivate news, Director Andrew Miles Snyder acquired 28,938 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $5.49 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the 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 transaction, the insider now directly owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Miles Snyder acquired 28,938 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The disclosure for this purchase can be found here. Company insiders own 22.77% of the company’s stock.

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.