HG Vora Capital Management LLC Takes Position in Clarivate PLC $CLVT

Key Points

• HG Vora Capital Management LLC has invested $47.16 million in Clarivate PLC, acquiring 12 million shares, which now represents about 4.8% of its investment portfolio.
• Clarivate's recent quarterly earnings met analysts' expectations with $0.18 earnings per share and revenue of $621.40 million, although this reflects a 4.4% decline from the same quarter last year.
• Several other hedge funds have also increased their holdings in Clarivate, with institutional investors now owning 85.72% of the company's stock.

HG Vora Capital Management LLC acquired a new stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,000,000 shares of the company's stock, valued at approximately $47,160,000. Clarivate accounts for approximately 4.8% of HG Vora Capital Management LLC's investment portfolio, making the stock its 9th largest holding. HG Vora Capital Management LLC owned 1.76% of Clarivate as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new position in shares of Clarivate during the 1st quarter valued at $39,593,000. Clarkston Capital Partners LLC raised its position in shares of Clarivate by 5.4% in the first quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock worth $292,895,000 after buying an additional 3,794,083 shares in the last quarter. Timucuan Asset Management Inc. FL bought a new stake in Clarivate during the first quarter valued at $8,859,000. American Century Companies Inc. grew its position in Clarivate by 31.1% during the first quarter. American Century Companies Inc. now owns 6,633,654 shares of the company's stock worth $26,070,000 after buying an additional 1,572,378 shares in the last quarter. Finally, Nuveen LLC bought a new position in Clarivate in the 1st quarter worth about $5,443,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Trading Up 3.6%

NYSE CLVT traded up $0.16 during trading on Friday, hitting $4.41. 2,788,559 shares of the company's stock traded hands, compared to its average volume of 4,366,178. The stock has a fifty day moving average of $4.26 and a two-hundred day moving average of $4.14. Clarivate PLC has a 12-month low of $3.04 and a 12-month high of $7.15. The firm has a market cap of $2.96 billion, a P/E ratio of -7.10 and a beta of 1.40. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLVT. Wolfe Research assumed coverage on shares of Clarivate in a research note on Wednesday. They issued a "peer perform" rating on the stock. Jefferies Financial Group assumed coverage on shares of Clarivate in a research report on Friday, July 18th. They set a "hold" rating and a $4.50 price objective 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 investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $4.83.

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.