KBC Group NV Raises Stock Position in Clarivate Plc (NYSE:CLVT)

KBC Group NV boosted its position in Clarivate Plc (NYSE:CLVT) by 33.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,225 shares of the company’s stock after purchasing an additional 2,549 shares during the quarter. KBC Group NV’s holdings in Clarivate were worth $73,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of CLVT. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Clarivate by 21.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock worth $254,000 after purchasing an additional 6,284 shares during the period. Creative Planning purchased a new position in Clarivate during the third quarter worth about $142,000. Handelsbanken Fonder AB increased its stake in Clarivate by 18.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 114,100 shares of the company’s stock worth $810,000 after acquiring an additional 17,900 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Clarivate in the 2nd quarter valued at about $258,000. Finally, Truist Financial Corp bought a new stake in shares of Clarivate during the 2nd quarter valued at about $63,000. 85.72% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Saurabh Saha sold 17,646 shares of the firm’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 value of $119,110.50. Following the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael J. Angelakis bought 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the purchase, the director now owns 1,500,000 shares of the company’s stock, valued at $7,665,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. 22.77% of the stock is currently owned by insiders.

Clarivate Stock Up 2.0 %

Shares of NYSE CLVT opened at $5.25 on Friday. The stock has a market capitalization of $3.73 billion, a P/E ratio of -2.64 and a beta of 1.18. Clarivate Plc has a one year low of $4.25 and a one year high of $9.60. The firm’s 50 day simple moving average is $6.19 and its two-hundred day simple moving average is $6.12. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CLVT. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. 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 report on Thursday, November 7th. Finally, Royal Bank of Canada lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and a consensus target price of $7.25.

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.