Connor Clark & Lunn Investment Management Ltd. Invests $284,000 in Clarivate PLC $CLVT

Key Points

• Connor Clark & Lunn Investment Management Ltd. invested approximately $284,000 in Clarivate PLC by purchasing 72,261 shares during the first quarter.
• Clarivate reported a revenue of $621.4 million for the latest quarter, surpassing expectations, but showed a 4.4% revenue decline compared to the previous year.
• Wall Street analysts have issued a consensus rating of "Reduce" for Clarivate, with an average price target of $4.83.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Clarivate PLC (NYSE:CLVT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 72,261 shares of the company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. LPL Financial LLC bought a new position in shares of Clarivate in the 4th quarter worth approximately $115,000. JPMorgan Chase & Co. grew its holdings in Clarivate by 6.6% during the 4th quarter. JPMorgan Chase & Co. now owns 413,889 shares of the company's stock valued at $2,103,000 after buying an additional 25,546 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Clarivate by 4.5% in the fourth quarter. Legal & General Group Plc now owns 353,419 shares of the company's stock valued at $1,795,000 after purchasing an additional 15,201 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Clarivate by 57.2% in the fourth quarter. Sterling Capital Management LLC now owns 24,467 shares of the company's stock valued at $124,000 after purchasing an additional 8,906 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Clarivate by 63.5% in the fourth quarter. XTX Topco Ltd now owns 87,741 shares of the company's stock valued at $446,000 after purchasing an additional 34,067 shares in the last quarter. Institutional investors own 85.72% of the company's stock.

Clarivate Trading Up 0.9%

Shares of CLVT stock opened at $4.41 on Wednesday. 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 company has a market cap of $2.96 billion, a price-to-earnings ratio of -7.11 and a beta of 1.40. The stock has a 50 day simple moving average of $4.22 and a 200-day simple moving average of $4.19. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $7.15.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, meeting 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 firm had revenue of $621.40 million during the quarter, compared to the consensus estimate of $587.17 million. During the same period in the prior year, the company earned $0.20 EPS. The firm's 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, equities research analysts expect that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wall Street Zen downgraded Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group initiated coverage on Clarivate in a research note on Friday, July 18th. They set a "hold" rating and a $4.50 price target on the stock. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Clarivate has a consensus rating of "Reduce" and an average price target of $4.83.

Insider Buying and Selling at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total transaction of $453,000.00. Following the completion of the transaction, the insider directly owned 1,271,103 shares in the company, valued at approximately $5,758,096.59. This represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 23.18% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.