Bryce Point Capital LLC Buys Shares of 223,027 Clarivate PLC (NYSE:CLVT)

Key Points

• Bryce Point Capital LLC invested approximately $942,000 in Clarivate PLC, acquiring 223,027 shares, which constitutes 0.7% of its investment portfolio.
• Insider James Gordon Samson sold 100,000 shares of Clarivate stock for $453,000, reducing their ownership by 7.29%.
• Clarivate's stock has been downgraded from a "buy" to a "hold" rating by some analysts, with a consensus price target of $4.83.

Bryce Point Capital LLC acquired a new stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 223,027 shares of the company's stock, valued at approximately $942,000. Clarivate accounts for 0.7% of Bryce Point Capital LLC's investment portfolio, making the stock its 26th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLVT. Bessemer Group Inc. purchased a new stake in shares of Clarivate in the first quarter worth approximately $30,000. Millstone Evans Group LLC increased 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 purchasing an additional 4,605 shares during the period. MQS Management LLC purchased a new position in Clarivate during the 1st quarter worth $44,000. Essex Financial Services Inc. purchased a new position in Clarivate during the 1st quarter worth $45,000. Finally, RPO LLC bought a new stake in Clarivate during the 4th quarter valued at $55,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total transaction of $453,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 23.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CLVT. Jefferies Financial Group started coverage on Clarivate in a research report on Friday, July 18th. They set a "hold" rating and a $4.50 target price on the stock. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, Clarivate has an average rating of "Hold" and an average target price of $4.83.

Clarivate Trading Down 4.1%

NYSE CLVT traded down $0.17 on Thursday, reaching $3.89. The stock had a trading volume of 2,017,338 shares, compared to its average volume of 5,695,163. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of -3.99 and a beta of 1.47. 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 12-month low of $3.04 and a 12-month high of $7.15. The stock has a fifty day moving average price of $4.29 and a two-hundred day moving average price of $4.33.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 earnings per share for the quarter, hitting analysts' consensus estimates of $0.18. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The business had revenue of $621.40 million for the quarter, compared to analyst estimates of $587.17 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The company's revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Clarivate Company 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.