Clearline Capital LP Increases Position in Clarivate Plc (NYSE:CLVT)

Clearline Capital LP increased its holdings in Clarivate Plc (NYSE:CLVT) by 141.2% in the second quarter, HoldingsChannel.com reports. The firm owned 2,088,422 shares of the company’s stock after buying an additional 1,222,646 shares during the quarter. Clarivate makes up 0.3% of Clearline Capital LP’s holdings, making the stock its 29th biggest holding. Clearline Capital LP’s holdings in Clarivate were worth $11,883,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Treasurer of the State of North Carolina lifted its position in shares of Clarivate by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 208,731 shares of the company’s stock valued at $1,933,000 after buying an additional 2,040 shares in the last quarter. TFO Wealth Partners LLC lifted its holdings in Clarivate by 1,590,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 15,901 shares of the company’s stock valued at $147,000 after purchasing an additional 15,900 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Clarivate in the fourth quarter valued at about $445,000. CIBC Private Wealth Group LLC raised its position in shares of Clarivate by 7.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 119,108 shares of the company’s stock worth $1,103,000 after purchasing an additional 8,038 shares during the last quarter. Finally, Rudius Management LP lifted its stake in Clarivate by 0.7% in the 4th quarter. Rudius Management LP now owns 1,258,683 shares of the company’s stock valued at $11,655,000 after buying an additional 9,200 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Insider Activity at Clarivate

In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Bar Veinstein sold 120,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares in the company, valued at $6,836,081. The disclosure for this sale can be found here. 22.77% of the stock is owned by insiders.

Clarivate Stock Performance

NYSE CLVT opened at $6.96 on Friday. Clarivate Plc has a fifty-two week low of $4.97 and a fifty-two week high of $9.60. The firm has a market capitalization of $5.04 billion, a P/E ratio of -4.19 and a beta of 1.17. The stock’s fifty day moving average is $6.52 and its two-hundred day moving average is $6.44. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.90 and a current ratio of 0.90.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The business 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 business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. On average, research analysts anticipate that Clarivate Plc will post 0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

CLVT has been the subject of several research reports. Royal Bank of Canada cut their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 7th. Barclays dropped their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Clarivate presently has a consensus rating of “Hold” and a consensus price target of $7.71.

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.