Invesco Ltd. Boosts Stock Position in Clarivate PLC $CLVT

Key Points

• Invesco Ltd. increased its stake in Clarivate PLC by 102.0% in Q1, now owning approximately 788,362 shares valued at $3.1 million.
• Clarivate reported earnings of $0.18 per share for the previous quarter, matching consensus estimates, but its revenue decreased by 4.4% year-over-year.
• A recent downgrade from a "buy" to a "hold" rating by analysts reflects cautious sentiment, with an average price target set at $4.83.

Invesco Ltd. raised its position in Clarivate PLC (NYSE:CLVT - Free Report) by 102.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 788,362 shares of the company's stock after acquiring an additional 398,176 shares during the period. Invesco Ltd. owned approximately 0.12% of Clarivate worth $3,098,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CLVT. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Clarivate in the first quarter valued at approximately $284,000. Wolverine Asset Management LLC lifted its holdings in shares of Clarivate by 30.5% in the first quarter. Wolverine Asset Management LLC now owns 138,900 shares of the company's stock valued at $546,000 after purchasing an additional 32,500 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clarivate by 2.5% in the first quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company's stock valued at $35,251,000 after purchasing an additional 218,938 shares in the last quarter. Truffle Hound Capital LLC lifted its holdings in shares of Clarivate by 38.9% in the first quarter. Truffle Hound Capital LLC now owns 250,000 shares of the company's stock valued at $982,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of Clarivate in the first quarter valued at approximately $942,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Insider Buying and Selling

In related news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction dated 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 $5,758,096.59. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.18% of the stock is currently owned by insiders.

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.10 during mid-day trading on Thursday, hitting $4.25. The company had a trading volume of 3,373,427 shares, compared to its average volume of 4,400,587. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -6.85 and a beta of 1.40. Clarivate PLC has a 1 year low of $3.04 and a 1 year high of $7.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.90. The stock's 50-day moving average price is $4.25 and its 200-day moving average price is $4.14.

Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting 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 business had revenue of $621.40 million during the quarter, compared to analysts' expectations of $587.17 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLVT has been the topic of a number of recent analyst reports. Wall Street Zen lowered Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Wolfe Research initiated coverage on Clarivate in a report on Wednesday. They set a "peer perform" rating on the stock. Finally, Jefferies Financial Group began coverage on Clarivate in a report on Friday, July 18th. They set a "hold" rating and a $4.50 price target on the stock. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Clarivate presently has a consensus rating of "Reduce" and a consensus target price of $4.83.

About Clarivate

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.