Cove Street Capital LLC Has $1.36 Million Stock Position in Clarivate PLC $CLVT

Key Points

• Cove Street Capital LLC has reduced its stake in Clarivate PLC by 52.3%, now holding 345,588 shares, which constitutes 2.1% of its portfolio.
• Insider James Gordon Samson sold 100,000 shares at an average price of $4.53, decreasing his position by 7.29% and leaving him with 1,271,103 shares.
• Equities analysts have set a consensus price target for Clarivate at $4.83, with the stock recently trading at $4.15 after a challenging earnings report showing a 4.4% decrease in revenue year-over-year.

Cove Street Capital LLC trimmed its holdings in Clarivate PLC (NYSE:CLVT - Free Report) by 52.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,588 shares of the company's stock after selling 379,280 shares during the period. Clarivate accounts for 2.1% of Cove Street Capital LLC's holdings, making the stock its 16th largest position. Cove Street Capital LLC owned 0.05% of Clarivate worth $1,358,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clarkston Capital Partners LLC increased its stake in Clarivate by 5.4% during the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock worth $292,895,000 after acquiring an additional 3,794,083 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of Clarivate during the 1st quarter valued at $39,593,000. Vanguard Group Inc. grew its holdings in shares of Clarivate by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company's stock worth $35,251,000 after purchasing an additional 218,938 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Clarivate by 31.1% during the 1st quarter. American Century Companies Inc. now owns 6,633,654 shares of the company's stock worth $26,070,000 after purchasing an additional 1,572,378 shares in the last quarter. Finally, Invenomic Capital Management LP increased its position in shares of Clarivate by 11.3% in the fourth quarter. Invenomic Capital Management LP now owns 6,585,707 shares of the company's stock worth $33,455,000 after purchasing an additional 667,146 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Insider Transactions at Clarivate

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the company's stock in a transaction dated 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 $5,758,096.59. This represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.18% of the stock is currently owned by insiders.

Clarivate Price Performance

Shares of CLVT traded up $0.07 during mid-day trading on Monday, reaching $4.47. The company had a trading volume of 2,880,185 shares, compared to its average volume of 5,516,595. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of -7.20 and a beta of 1.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.91 and a current ratio of 0.91. The company's 50 day simple moving average is $4.26 and its 200 day simple moving average is $4.13. 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 issued 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 negative net margin of 17.33% and a positive return on equity of 8.65%. The business had revenue of $621.40 million during the quarter, compared to the consensus estimate of $587.17 million. During the same quarter in the prior year, the firm 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. Analysts expect that Clarivate PLC will post 0.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Clarivate in a research note on Friday, July 18th. They issued a "hold" rating and a $4.50 price target for the company. Wolfe Research began coverage on shares of Clarivate in a report on Wednesday, September 3rd. They issued a "peer perform" rating on the stock. Finally, Wall Street Zen downgraded shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus 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.