Clarivate Plc (NYSE:CLVT) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC cut its position in Clarivate Plc (NYSE:CLVT) by 37.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 32,725 shares of the company’s stock after selling 19,504 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Clarivate were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Clarivate by 21.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock worth $254,000 after acquiring an additional 6,284 shares during the period. Creative Planning acquired a new stake in Clarivate in the third quarter worth approximately $142,000. Handelsbanken Fonder AB boosted its stake in Clarivate by 18.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 114,100 shares of the company’s stock valued at $810,000 after purchasing an additional 17,900 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Clarivate during the 2nd quarter valued at $258,000. Finally, Truist Financial Corp bought a new stake in shares of Clarivate in the 2nd quarter worth $63,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT opened at $4.59 on Tuesday. The company’s 50 day moving average price is $6.51 and its 200 day moving average price is $6.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.90 and a current ratio of 0.88. Clarivate Plc has a 52 week low of $4.43 and a 52 week high of $9.60. The company has a market capitalization of $3.26 billion, a PE ratio of -2.31 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. The firm had revenue of $622.20 million for 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Research analysts expect that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insider Activity at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the transaction, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CLVT has been the subject of several research reports. Royal Bank of Canada reduced their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays decreased their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.25.

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.