AustralianSuper Pty Ltd purchased a new stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,074,565 shares of the company's stock, valued at approximately $39,593,000. AustralianSuper Pty Ltd owned about 1.47% of Clarivate at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in CLVT. Bessemer Group Inc. purchased a new position in shares of Clarivate in the 1st quarter valued at about $30,000. MQS Management LLC purchased a new position in Clarivate in the first quarter valued at approximately $44,000. Essex Financial Services Inc. purchased a new position in Clarivate in the first quarter valued at approximately $45,000. RPO LLC purchased a new position in Clarivate in the fourth quarter valued at approximately $55,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Clarivate in the fourth quarter valued at approximately $56,000. 85.72% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
CLVT has been the topic of several research analyst reports. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Jefferies Financial Group began 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 given a hold rating to the company. According to data from MarketBeat.com, Clarivate has an average rating of "Hold" and a consensus target price of $4.83.
Check Out Our Latest Report on CLVT
Clarivate Stock Performance
Shares of CLVT stock traded up $0.08 on Tuesday, hitting $4.30. The company had a trading volume of 1,702,841 shares, compared to its average volume of 5,358,333. The firm has a market cap of $2.93 billion, a P/E ratio of -4.43 and a beta of 1.47. The company has a 50-day moving average price of $4.29 and a 200-day moving average price of $4.36. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $7.15.
Clarivate (NYSE:CLVT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $593.70 million for the quarter, compared to analysts' expectations of $574.03 million. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The firm's revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, equities research analysts predict that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider James Gordon Samson sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total value of $453,000.00. Following the sale, the insider owned 1,271,103 shares in the company, valued at approximately $5,758,096.59. This represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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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