Bank of New York Mellon Corp Buys 88,670 Shares of Clarivate PLC (NYSE:CLVT)

Bank of New York Mellon Corp raised its position in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,429,086 shares of the company's stock after buying an additional 88,670 shares during the quarter. Bank of New York Mellon Corp owned 0.35% of Clarivate worth $9,546,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Clarivate by 53.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company's stock worth $141,107,000 after purchasing an additional 9,691,104 shares in the last quarter. Norges Bank purchased a new stake in shares of Clarivate in the fourth quarter worth approximately $27,764,000. Clarkston Capital Partners LLC lifted its position in shares of Clarivate by 8.1% in the fourth quarter. Clarkston Capital Partners LLC now owns 70,733,831 shares of the company's stock worth $359,328,000 after purchasing an additional 5,319,535 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Clarivate in the fourth quarter worth approximately $19,172,000. Finally, Atairos Partners GP Inc. purchased a new stake in shares of Clarivate in the fourth quarter worth approximately $17,602,000. 85.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider James Gordon Samson sold 100,000 shares of the firm'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 sale, the insider owned 1,271,103 shares in the company, valued at approximately $5,758,096.59. This trade represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.18% of the company's stock.

Clarivate Stock Performance

CLVT stock traded up $0.09 during midday trading on Friday, hitting $4.53. 3,184,021 shares of the company traded hands, compared to its average volume of 4,253,240. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $7.15. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. The business has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $4.35. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of -4.66 and a beta of 1.47.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $593.70 million for the quarter, compared to the consensus estimate of $574.03 million. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $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 year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CLVT. Jefferies Financial Group began coverage on shares of Clarivate in a research report on Friday, July 18th. They set a "hold" rating and a $4.50 price objective on the stock. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.83.

About Clarivate

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.