Perpetual Ltd Has $35.63 Million Holdings in Clarivate PLC $CLVT

Key Points

• Perpetual Ltd has reduced its holdings in Clarivate PLC by 6.3%, now owning approximately 1.21% of the company, valued at around $35.63 million.
• Clarivate's stock has decreased by 2.4%, trading at around $4.01 with analysts forecasting an estimated EPS of 0.63 for the current year.
• Insider James Gordon Samson sold 100,000 shares at an average price of $4.53, representing a 7.29% decrease in their position in the company.

Perpetual Ltd trimmed its position in Clarivate PLC (NYSE:CLVT - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,285,317 shares of the company's stock after selling 553,635 shares during the period. Perpetual Ltd owned 1.21% of Clarivate worth $35,627,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. purchased a new position in Clarivate in the 1st quarter worth $30,000. Millstone Evans Group LLC lifted its stake 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 worth $30,000 after buying an additional 4,605 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Clarivate by 688.8% during the second quarter. Parallel Advisors LLC now owns 8,196 shares of the company's stock valued at $35,000 after purchasing an additional 7,157 shares during the last quarter. MQS Management LLC purchased a new stake in Clarivate during the first quarter valued at approximately $44,000. Finally, Essex Financial Services Inc. purchased a new stake in shares of Clarivate in the first quarter worth $45,000. 85.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of Clarivate 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CLVT. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Wolfe Research began coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They set a "peer perform" rating for the company. Finally, Jefferies Financial Group initiated coverage on shares of Clarivate in a research report on Friday, July 18th. They set a "hold" rating and a $4.50 price objective for the company. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $4.83.

Clarivate Stock Performance

NYSE CLVT traded up $0.01 during trading on Tuesday, hitting $4.07. The company's stock had a trading volume of 607,409 shares, compared to its average volume of 5,372,034. 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 $4.22 and a 200 day moving average price of $4.12. The firm has a market cap of $2.73 billion, a P/E ratio of -6.56 and a beta of 1.40. Clarivate PLC has a 52 week low of $3.04 and a 52 week 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 EPS for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $621.40 million for the quarter, compared to the consensus estimate of $587.17 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The company's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Equities research analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

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.