Baupost Group LLC MA Reduces Stock Holdings in Clarivate PLC $CLVT

Key Points

• Baupost Group LLC MA has significantly reduced its stake in Clarivate PLC by 70.3%, selling over 25 million shares and now holding approximately 10.8 million shares.
• Clarivate's recent quarterly earnings report showed earnings per share of $0.18, meeting analysts' expectations, despite a 4.4% decline in revenue compared to the previous year.
• Analysts have revised their ratings for Clarivate, with one firm lowering the stock from a "buy" to a "hold," and the consensus price target stands at $4.83.

Baupost Group LLC MA cut its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 70.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,777,863 shares of the company's stock after selling 25,501,342 shares during the period. Clarivate comprises approximately 1.2% of Baupost Group LLC MA's holdings, making the stock its 19th largest holding. Baupost Group LLC MA owned approximately 1.58% of Clarivate worth $42,357,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CLVT. AustralianSuper Pty Ltd bought a new stake in shares of Clarivate during the first quarter worth $39,593,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Clarivate by 53.6% during 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 acquiring an additional 9,691,104 shares during the period. Clarkston Capital Partners LLC raised its stake in Clarivate by 5.4% in the first quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock valued at $292,895,000 after purchasing an additional 3,794,083 shares in the last quarter. Atairos Partners GP Inc. bought a new stake in shares of Clarivate during the 4th quarter worth $17,602,000. Finally, BW Gestao de Investimentos Ltda. lifted its stake in shares of Clarivate by 215.9% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,273,175 shares of the company's stock valued at $16,628,000 after acquiring an additional 2,236,942 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company's stock.

Insider Buying and Selling

In related 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 completion of the sale, the insider directly owned 1,271,103 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is owned by insiders.

Clarivate Stock Performance

Shares of NYSE:CLVT traded up $0.05 during midday trading on Friday, hitting $4.36. The company had a trading volume of 1,402,517 shares, compared to its average volume of 5,560,982. The company has a fifty day moving average of $4.24 and a two-hundred day moving average of $4.17. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -7.02 and a beta of 1.40. 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 12-month low of $3.04 and a 12-month high of $7.15.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on CLVT shares. Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group started coverage on Clarivate in a report on Friday, July 18th. They issued a "hold" rating and a $4.50 price target for the company. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target 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.