Clearline Capital LP Cuts Position in Clarivate PLC $CLVT

Key Points

• Clearline Capital LP decreased its stakes in Clarivate PLC by 9.3%, owning 1,782,201 shares worth $7 million after selling 182,297 shares in Q1.
• Clarivate reported earnings of $0.18 per share, matching analysts' expectations, while revenue for the quarter was $621.4 million, exceeding estimates but down 4.4% from the previous year.
• Several hedge funds have increased their stakes in Clarivate, with 85.72% of the stock now owned by institutional investors, signaling a strategic interest in the company.

Clearline Capital LP decreased its stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,782,201 shares of the company's stock after selling 182,297 shares during the period. Clearline Capital LP owned about 0.26% of Clarivate worth $7,004,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC raised 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 purchasing an additional 4,605 shares during the period. Bessemer Group Inc. purchased a new position in shares of Clarivate in the 1st quarter worth $30,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clarivate in the 4th quarter worth $56,000. MQS Management LLC purchased a new position in shares of Clarivate during the 1st quarter worth about $44,000. Finally, Essex Financial Services Inc. purchased a new position in shares of Clarivate during the 1st quarter worth about $45,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Trading Down 1.7%

Shares of CLVT traded down $0.08 during mid-day trading on Friday, reaching $4.30. The stock had a trading volume of 2,008,945 shares, compared to its average volume of 5,457,109. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91. The business's fifty day moving average is $4.25 and its 200 day moving average is $4.13. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $7.15. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of -6.93 and a beta of 1.40.

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

Insider Buying and Selling

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 transaction of $453,000.00. Following the completion of the transaction, the insider owned 1,271,103 shares in the company, valued at $5,758,096.59. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 23.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several research reports. Wolfe Research initiated coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Jefferies Financial Group began coverage on shares of Clarivate in a research note on Friday, July 18th. They set a "hold" rating and a $4.50 price objective for the company. Finally, Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $4.83.

Clarivate 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.