Connor Clark & Lunn Investment Management Ltd. Buys New Position 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 stake in Clarivate PLC (NYSE:CLVT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 72,261 shares of the company's stock, valued at approximately $284,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AustralianSuper Pty Ltd purchased a new stake in shares of Clarivate during the 1st quarter worth about $39,593,000. Price T Rowe Associates Inc. MD raised its position in shares of Clarivate by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company's stock valued at $141,107,000 after purchasing an additional 9,691,104 shares in the last quarter. Atairos Partners GP Inc. acquired a new position in shares of Clarivate in the 4th quarter valued at approximately $17,602,000. BW Gestao de Investimentos Ltda. raised its position in shares of Clarivate by 215.9% in the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,273,175 shares of the company's stock valued at $16,628,000 after purchasing an additional 2,236,942 shares in the last quarter. Finally, Invenomic Capital Management LP increased its holdings in shares of Clarivate by 11.3% in the 4th quarter. Invenomic Capital Management LP now owns 6,585,707 shares of the company's stock valued at $33,455,000 after acquiring an additional 667,146 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Insider Activity

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 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 approximately $5,758,096.59. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 23.18% of the company's stock.

Analyst Upgrades and Downgrades

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

Clarivate Stock Performance

CLVT traded up $0.0050 during trading on Monday, reaching $4.5050. 4,393,376 shares of the company were exchanged, compared to its average volume of 4,937,094. The stock has a market cap of $3.03 billion, a P/E ratio of -7.27 and a beta of 1.40. The firm has a 50 day moving average of $4.23 and a 200 day moving average of $4.17. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.90. Clarivate PLC has a 52 week low of $3.04 and a 52 week 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 EPS for the quarter, hitting analysts' consensus estimates of $0.18. The firm had revenue of $621.40 million during 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, sell-side analysts forecast that Clarivate PLC will post 0.63 EPS for the current fiscal year.

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.