AustralianSuper Pty Ltd bought a new stake in Clarivate PLC (NYSE:CLVT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,074,565 shares of the company's stock, valued at approximately $39,593,000. AustralianSuper Pty Ltd owned 1.47% of Clarivate as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLVT. Bessemer Group Inc. acquired a new position in Clarivate during the 1st quarter worth $30,000. MQS Management LLC acquired a new position in Clarivate during the 1st quarter worth $44,000. Essex Financial Services Inc. acquired a new position in Clarivate during the 1st quarter worth $45,000. RPO LLC acquired a new position in Clarivate during the 4th quarter worth $55,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Clarivate during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 85.72% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CLVT. 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 research note on Friday. They set a "hold" rating and a $4.50 price objective for the company. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Clarivate presently has a consensus rating of "Hold" and an average price target of $4.83.
Read Our Latest Research Report on CLVT
Clarivate Stock Down 1.9%
Shares of NYSE CLVT traded down $0.08 during midday trading on Friday, reaching $4.23. 5,278,176 shares of the company's stock were exchanged, compared to its average volume of 5,381,989. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $7.15. The stock has a market capitalization of $2.89 billion, a PE ratio of -4.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88. The business's fifty day moving average price is $4.29 and its two-hundred day moving average price is $4.36.
Clarivate (NYSE:CLVT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $574.03 million. During the same period in the previous year, the firm posted $0.14 earnings per share. Clarivate's quarterly revenue was down 4.4% compared to the same quarter last year. Analysts forecast that Clarivate PLC will post 0.63 EPS for the current year.
Insider Activity
In other news, insider James Gordon Samson sold 100,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total value of $453,000.00. Following the transaction, the insider directly owned 1,271,103 shares of the company's stock, valued at approximately $5,758,096.59. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.18% of the company's stock.
About Clarivate
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Free Report)
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.
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