Truffle Hound Capital LLC Boosts Holdings in Clarivate PLC (NYSE:CLVT)

Key Points

• Truffle Hound Capital LLC increased its stake in Clarivate PLC by 38.9%, owning 250,000 shares worth approximately $982,000 after acquiring an additional 70,000 shares.
• Multiple institutional investors have significantly altered their positions, with Bryce Point Capital LLC acquiring a new stake valued at about $942,000 and Millstone Evans Group LLC boosting its holdings by 156.6%.
• Despite reporting earnings of $0.18 EPS, which met analysts' expectations, the company's revenue decreased by 4.4% year-over-year, and it currently has a consensus rating of "Hold".

Truffle Hound Capital LLC lifted its position in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 38.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after purchasing an additional 70,000 shares during the quarter. Truffle Hound Capital LLC's holdings in Clarivate were worth $982,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bessemer Group Inc. purchased a new stake in shares of Clarivate during the first quarter valued at approximately $30,000. Millstone Evans Group LLC grew its position in shares of Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock valued at $30,000 after acquiring an additional 4,605 shares during the period. MQS Management LLC purchased a new stake in shares of Clarivate during the 1st quarter worth approximately $44,000. Essex Financial Services Inc. bought a new position in Clarivate during the first quarter valued at $45,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Clarivate in the fourth quarter worth $56,000. 85.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CLVT has been the subject of a number of research reports. 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 target price for the company. Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.83.

Clarivate Price Performance

NYSE:CLVT traded up $0.10 during mid-day trading on Wednesday, hitting $3.79. 3,865,626 shares of the stock traded hands, compared to its average volume of 5,679,980. The business's 50-day moving average price is $4.26 and its 200 day moving average price is $4.28. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The company has a market cap of $2.54 billion, a PE ratio of -6.10 and a beta of 1.40. 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 issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 earnings per share (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 was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 earnings per share. On average, analysts expect that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider owned 1,271,103 shares of the company's stock, valued at $5,758,096.59. The trade was a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.18% of the stock is owned by corporate insiders.

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.