Price T Rowe Associates Inc. MD Has $47.53 Million Holdings in Clarivate PLC $CLVT

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 lessened its position in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 56.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 approximately 1.77% of Clarivate worth $47,529,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in shares of Clarivate during the first quarter worth approximately $435,000. Quantbot Technologies LP boosted its holdings in shares of Clarivate by 44.9% during the first quarter. Quantbot Technologies LP now owns 262,779 shares of the company's stock worth $1,033,000 after acquiring an additional 81,410 shares during the period. American Century Companies Inc. boosted its holdings in shares of Clarivate by 31.1% during the first quarter. American Century Companies Inc. now owns 6,633,654 shares of the company's stock worth $26,070,000 after acquiring an additional 1,572,378 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Clarivate by 2.4% during the first quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company's stock worth $428,000 after acquiring an additional 2,520 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Clarivate by 25.3% during the first quarter. HighTower Advisors LLC now owns 224,740 shares of the company's stock worth $883,000 after acquiring an additional 45,338 shares during the period. Institutional investors own 85.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CLVT. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Jefferies Financial Group began coverage on Clarivate in a research note on Friday, July 18th. They issued a "hold" rating and a $4.50 price target for the company. 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.com, Clarivate currently has a consensus rating of "Reduce" and an average target price of $4.83.

Clarivate Price Performance

Shares of Clarivate stock traded down $0.16 during trading on Tuesday, reaching $4.20. 4,033,501 shares of the company's stock were exchanged, compared to its average volume of 4,403,244. 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 1-year low of $3.04 and a 1-year high of $7.15. The company has a market cap of $2.82 billion, a P/E ratio of -6.77 and a beta of 1.40. The firm's 50-day moving average price is $4.26 and its 200 day moving average price is $4.15.

Clarivate (NYSE:CLVT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting analysts' consensus estimates of $0.18. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The company had revenue of $621.40 million during the quarter, compared to analysts' expectations of $587.17 million. During the same quarter in the previous year, the firm earned $0.20 EPS. Clarivate'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. As a group, research analysts anticipate that Clarivate PLC will post 0.63 earnings per share for the current year.

Insider Activity at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction 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 transaction, the insider owned 1,271,103 shares of the company's stock, valued at approximately $5,758,096.59. The trade was a 7.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.18% of the company's stock.

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.