Raymond James & Associates Trims Stake in Clarivate Plc (NYSE:CLVT)

Raymond James & Associates cut its stake in shares of Clarivate Plc (NYSE:CLVT) by 35.9% during the third quarter, HoldingsChannel.com reports. The fund owned 4,646,510 shares of the company’s stock after selling 2,598,280 shares during the quarter. Raymond James & Associates’ holdings in Clarivate were worth $32,990,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Clarivate in the second quarter valued at approximately $1,410,000. Capital World Investors acquired a new stake in shares of Clarivate in the first quarter valued at about $30,104,000. Boston Partners grew its position in shares of Clarivate by 76.3% in the first quarter. Boston Partners now owns 557,496 shares of the company’s stock valued at $4,140,000 after purchasing an additional 241,292 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Clarivate during the second quarter worth about $2,251,000. Finally, Illinois Municipal Retirement Fund acquired a new position in Clarivate during the first quarter worth about $611,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Clarivate

In other news, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $840,000.00. Following the completion of the transaction, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. Corporate insiders own 22.77% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT opened at $6.54 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The stock has a market cap of $4.37 billion, a P/E ratio of -3.94 and a beta of 1.17. The company has a 50-day moving average of $6.67 and a two-hundred day moving average of $6.36. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60.

Clarivate (NYSE:CLVT) last released its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The firm had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Clarivate’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts predict that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

CLVT has been the topic of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Barclays reduced their target price on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.58.

About Clarivate

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.