Invenomic Capital Management LP Acquires 1,894,589 Shares of Clarivate PLC $CLVT

Key Points

• Invenomic Capital Management LP increased its stake in Clarivate PLC by 28.8%, acquiring an additional 1.89 million shares, which brings their total to approximately 8.48 million shares.
• Clarivate's shares are currently rated as a hold by several analysts, with an average price target of $4.83, reflecting a cautious outlook on the stock.
• In its latest earnings report, Clarivate posted $0.18 earnings per share and revenue of $621.4 million, exceeding analysts' estimates despite a 4.4% decline in revenue compared to the previous year.

Invenomic Capital Management LP increased its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,480,296 shares of the company's stock after buying an additional 1,894,589 shares during the quarter. Clarivate accounts for about 1.7% of Invenomic Capital Management LP's holdings, making the stock its 14th biggest holding. Invenomic Capital Management LP owned approximately 1.24% of Clarivate worth $33,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of Clarivate during the 1st quarter worth $30,000. Millstone Evans Group LLC lifted 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 worth $30,000 after buying an additional 4,605 shares during the last quarter. MQS Management LLC bought a new stake in shares of Clarivate during the 1st quarter worth $44,000. Essex Financial Services Inc. bought a new stake in shares of Clarivate during the 1st quarter worth $45,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Clarivate during the 4th quarter worth $56,000. 85.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of the 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 sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 23.18% of the company's stock.

Clarivate Trading Down 1.8%

Shares of CLVT stock traded down $0.08 on Tuesday, hitting $4.40. The company had a trading volume of 3,150,755 shares, compared to its average volume of 5,502,759. The firm has a market cap of $2.96 billion, a P/E ratio of -7.10 and a beta of 1.40. The stock's 50-day moving average is $4.26 and its two-hundred day moving average is $4.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.91 and a current ratio of 0.91. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $7.15.

Clarivate (NYSE:CLVT - Get Free Report) last issued 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 company had revenue of $621.40 million during the quarter, compared to analysts' expectations of $587.17 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, equities research analysts anticipate that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in 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 started coverage on Clarivate in a report on Friday, July 18th. They issued a "hold" rating and a $4.50 target price for the company. Finally, Wolfe Research started coverage on Clarivate in a report on Wednesday, September 3rd. They issued a "peer perform" rating for the company. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to 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.