American Century Companies Inc. Acquires 1,572,378 Shares of Clarivate PLC $CLVT

Key Points

• American Century Companies Inc. increased its stake in Clarivate PLC by 31.1%, acquiring an additional 1,572,378 shares during the first quarter, bringing its total ownership to 6,633,654 shares valued at approximately $26 million.
• Clarivate PLC reported earnings of $0.18 per share for the last quarter, matching analyst expectations, with revenues of $621.40 million, exceeding estimates of $587.17 million.
• The stock of Clarivate PLC rose by 2.2% and has a current market cap of $3.02 billion, while facing mixed analyst ratings with a consensus price target of $4.83.

American Century Companies Inc. grew its holdings in Clarivate PLC (NYSE:CLVT - Free Report) by 31.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,633,654 shares of the company's stock after purchasing an additional 1,572,378 shares during the period. American Century Companies Inc. owned approximately 0.97% of Clarivate worth $26,070,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CLVT. LPL Financial LLC bought a new position in shares of Clarivate in the 4th quarter valued at $115,000. Legal & General Group Plc boosted its holdings in shares of Clarivate by 4.5% during the 4th quarter. Legal & General Group Plc now owns 353,419 shares of the company's stock valued at $1,795,000 after acquiring an additional 15,201 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Clarivate by 34.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock valued at $142,000 after acquiring an additional 7,247 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Clarivate by 121.2% during the 4th quarter. OneDigital Investment Advisors LLC now owns 280,411 shares of the company's stock valued at $1,424,000 after acquiring an additional 153,638 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Clarivate during the 4th quarter valued at $219,000. Institutional investors own 85.72% of the company's stock.

Insider Buying and Selling at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total value of $453,000.00. Following the completion of the transaction, the insider directly owned 1,271,103 shares of the company's stock, valued at approximately $5,758,096.59. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 23.18% of the company's stock.

Clarivate Trading Down 0.1%

CLVT traded down $0.01 during midday trading on Wednesday, hitting $4.47. 2,117,451 shares of the company were exchanged, compared to its average volume of 5,590,684. The firm has a market capitalization of $3.00 billion, a P/E ratio of -7.20 and a beta of 1.40. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $7.15. The firm's 50 day moving average price is $4.24 and its 200-day moving average price is $4.17. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90.

Clarivate (NYSE:CLVT - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The firm had revenue of $621.40 million for the quarter, compared to the consensus estimate of $587.17 million. During the same period in the previous year, the business earned $0.20 EPS. The business's quarterly revenue was down 4.4% compared to the same quarter last year. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, equities analysts forecast that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CLVT shares. Wall Street Zen downgraded Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Jefferies Financial Group started coverage on Clarivate in a report on Friday, July 18th. They set a "hold" rating and a $4.50 price objective on the stock. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $4.83.

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.