Maverick Capital Ltd. Boosts Position in Clarivate PLC $CLVT

Key Points

• Maverick Capital Ltd. increased its stake in Clarivate PLC by 124.9% during the 1st quarter, owning 140,095 shares valued at approximately $551,000.
• Clarivate's latest quarterly earnings report showed an EPS of $0.18, matching consensus estimates, but revenue fell 4.4% year-over-year.
• Research analysts have set a price target for Clarivate shares at an average of $4.83, with ratings mostly as "Hold" or "Reduce."

Maverick Capital Ltd. raised its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 124.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,095 shares of the company's stock after buying an additional 77,798 shares during the quarter. Maverick Capital Ltd.'s holdings in Clarivate were worth $551,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Bessemer Group Inc. purchased a new stake in shares of Clarivate in the first quarter valued at about $30,000. Millstone Evans Group LLC grew its holdings in shares of Clarivate by 156.6% in the first quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock valued at $30,000 after purchasing an additional 4,605 shares during the period. MQS Management LLC purchased a new stake in shares of Clarivate in the first quarter valued at about $44,000. Essex Financial Services Inc. purchased a new stake in shares of Clarivate in the first quarter valued at about $45,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Clarivate in the fourth quarter valued at about $56,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Analysts Set New Price Targets

CLVT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Jefferies Financial Group initiated coverage on shares of Clarivate in a research note on Friday, July 18th. They set a "hold" rating and a $4.50 target price for the company. Finally, Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday. They set a "peer perform" rating for the company. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $4.83.

Insiders Place Their Bets

In related news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction that occurred on 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 sale, the insider 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is currently owned by insiders.

Clarivate Trading Up 3.6%

NYSE CLVT traded up $0.16 during trading on Friday, hitting $4.41. The stock had a trading volume of 2,788,559 shares, compared to its average volume of 4,285,439. The company has a market capitalization of $2.96 billion, a PE ratio of -7.10 and a beta of 1.40. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.13. 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 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 firm had revenue of $621.40 million for 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 was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, equities research analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current year.

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.