Clarivate PLC $CLVT Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has significantly reduced its stake in Clarivate PLC by 56.5%, selling 15,683,296 shares in the first quarter.
• Clarivate's stock performance shows a market capitalization of $3.01 billion, with a P/E ratio of -7.22, and the stock is currently priced at $4.48.
• The company reported quarterly earnings of $0.18 EPS, matching analysts' expectations, but revenue was down 4.4% year-over-year, totaling $621.40 million.

Price T Rowe Associates Inc. MD cut its holdings in Clarivate PLC (NYSE:CLVT - Free Report) by 56.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,093,596 shares of the company's stock after selling 15,683,296 shares during the period. Price T Rowe Associates Inc. MD owned about 1.77% of Clarivate worth $47,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in shares of Clarivate in the 1st quarter worth about $30,000. Millstone Evans Group LLC boosted its position in shares of Clarivate by 156.6% in 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 in the last quarter. MQS Management LLC purchased a new stake in shares of Clarivate in the 1st quarter worth about $44,000. Essex Financial Services Inc. purchased a new stake in shares of Clarivate in the 1st quarter worth about $45,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Clarivate in the 4th quarter worth about $56,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLVT. Jefferies Financial Group began coverage on shares of Clarivate in a report on Friday, July 18th. They issued a "hold" rating and a $4.50 target price on the stock. Wall Street Zen lowered shares of Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Three 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, Clarivate presently has an average rating of "Reduce" and a consensus target price of $4.83.

Insider Transactions at Clarivate

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

Clarivate Trading Up 1.5%

Shares of CLVT stock traded up $0.07 during trading hours on Monday, hitting $4.38. 4,740,005 shares of the company were exchanged, compared to its average volume of 4,575,731. The firm has a market cap of $2.94 billion, a PE ratio of -7.06 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 quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a fifty day moving average of $4.25 and a 200 day moving average of $4.15.

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