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. lifted its stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 31.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,633,654 shares of the company's stock after purchasing an additional 1,572,378 shares during the quarter. American Century Companies Inc. owned 0.97% of Clarivate worth $26,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its holdings in shares of Clarivate by 2.4% during the 1st quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company's stock valued at $428,000 after purchasing an additional 2,520 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Clarivate by 7.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,253 shares of the company's stock worth $158,000 after acquiring an additional 2,858 shares during the last quarter. Millstone Evans Group LLC grew its holdings in Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock worth $30,000 after acquiring an additional 4,605 shares during the last quarter. Deutsche Bank AG grew its holdings in Clarivate by 27.4% during the 4th quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock worth $133,000 after acquiring an additional 5,641 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Clarivate by 34.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock worth $142,000 after acquiring an additional 7,247 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Clarivate Stock Down 1.7%

Shares of Clarivate stock traded down $0.08 during trading on Thursday, reaching $4.41. 674,528 shares of the company traded hands, compared to its average volume of 5,567,989. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $7.15. The company has a 50 day moving average price of $4.24 and a 200-day moving average price of $4.17. The firm has a market capitalization of $2.96 billion, a PE ratio of -7.12 and a beta of 1.40.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.18. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. The company had revenue of $621.40 million for the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the previous year, the company earned $0.20 EPS. Clarivate'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 research analysts expect that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

Insider Activity

In related news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total transaction of $453,000.00. Following the transaction, the insider owned 1,271,103 shares in the company, valued at $5,758,096.59. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 23.18% of the stock is owned by insiders.

Analysts Set New Price Targets

CLVT has been the topic of a number of research reports. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Jefferies Financial Group initiated coverage on shares of Clarivate in a report on Friday, July 18th. They set a "hold" rating and a $4.50 target price on the stock. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price 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.