Clarivate PLC $CLVT Shares Purchased by Clarkston Capital Partners LLC

Key Points

• Clarkston Capital Partners LLC increased its stake in Clarivate PLC by 5.4%, making it the second largest position in their portfolio, with approximately 10.91% of the company valued at $292.9 million.
• Insider James Gordon Samson sold 100,000 shares of Clarivate stock for $453,000, reducing his ownership by about 7.29%.
• Clarivate reported $621.4 million in revenue for the latest quarter, exceeding analyst estimates, but showed a year-over-year revenue decline of 4.4%.

Clarkston Capital Partners LLC lifted its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,527,914 shares of the company's stock after buying an additional 3,794,083 shares during the period. Clarivate makes up about 5.8% of Clarkston Capital Partners LLC's investment portfolio, making the stock its 2nd largest holding. Clarkston Capital Partners LLC owned about 10.91% of Clarivate worth $292,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hsbc Holdings PLC acquired a new position in shares of Clarivate during the first quarter worth approximately $435,000. Quantbot Technologies LP boosted its holdings in shares of Clarivate by 44.9% in the first quarter. Quantbot Technologies LP now owns 262,779 shares of the company's stock valued at $1,033,000 after acquiring an additional 81,410 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Clarivate by 31.1% in the first quarter. American Century Companies Inc. now owns 6,633,654 shares of the company's stock valued at $26,070,000 after acquiring an additional 1,572,378 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in shares of Clarivate by 2.4% in the first quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company's stock valued at $428,000 after acquiring an additional 2,520 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Clarivate by 25.3% in the first quarter. HighTower Advisors LLC now owns 224,740 shares of the company's stock valued at $883,000 after acquiring an additional 45,338 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total value of $453,000.00. Following the transaction, the insider 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 23.18% of the company's stock.

Clarivate Price Performance

Shares of NYSE CLVT traded down $0.01 during trading on Tuesday, hitting $4.50. The company had a trading volume of 1,919,597 shares, compared to its average volume of 5,593,436. The company has a market cap of $3.02 billion, a P/E ratio of -7.25 and a beta of 1.40. Clarivate PLC has a 52 week low of $3.04 and a 52 week high of $7.15. The business's 50-day moving average is $4.23 and its 200 day moving average is $4.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.91 and a current ratio of 0.91.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $621.40 million for the quarter, compared to analysts' expectations 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 was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Equities research analysts predict that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLVT has been the subject of several recent analyst reports. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Jefferies Financial Group initiated coverage on shares of Clarivate in a report on Friday, July 18th. They issued a "hold" rating and a $4.50 price objective for the company. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus 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.