Russell Investments Group Ltd. Trims Holdings in Clarivate PLC $CLVT

Key Points

• Russell Investments Group Ltd. has significantly reduced its stake in Clarivate PLC by 88.2%, now holding only 300,297 shares after selling over 2.2 million shares in the first quarter.
• Clarivate's most recent quarterly earnings showed an EPS of $0.18, matching consensus estimates, but with a 4.4% decline in revenue year-over-year.
• Analysts have recently downgraded Clarivate's stock, with Wall Street Zen changing its rating from "buy" to "hold" and setting a price target of $4.50.

Russell Investments Group Ltd. trimmed its position in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 88.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 300,297 shares of the company's stock after selling 2,247,509 shares during the quarter. Russell Investments Group Ltd.'s holdings in Clarivate were worth $1,180,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CLVT. AustralianSuper Pty Ltd purchased a new stake in Clarivate during the 1st quarter valued at about $39,593,000. Atairos Partners GP Inc. purchased a new stake in Clarivate during the 4th quarter valued at about $17,602,000. BW Gestao de Investimentos Ltda. grew its position in Clarivate by 215.9% during the 4th quarter. BW Gestao de Investimentos Ltda. now owns 3,273,175 shares of the company's stock valued at $16,628,000 after purchasing an additional 2,236,942 shares during the last quarter. Nuveen LLC purchased a new stake in Clarivate during the 1st quarter valued at about $5,443,000. Finally, Invenomic Capital Management LP grew its position in Clarivate by 11.3% during the 4th quarter. Invenomic Capital Management LP now owns 6,585,707 shares of the company's stock valued at $33,455,000 after purchasing an additional 667,146 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLVT. Wall Street Zen lowered Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group assumed coverage on shares of Clarivate in a research note on Friday, July 18th. They set a "hold" rating and a $4.50 target price on the stock. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Clarivate presently has a consensus 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 value of $453,000.00. Following the completion of the sale, the insider directly 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.18% of the company's stock.

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.07 during midday trading on Monday, hitting $4.38. 4,740,005 shares of the company's stock traded hands, compared to its average volume of 4,575,731. Clarivate PLC has a 1 year low of $3.04 and a 1 year high of $7.15. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -7.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.91 and a current ratio of 0.91. 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 released its quarterly earnings results on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. The firm had revenue of $621.40 million during the quarter, compared to analyst estimates of $587.17 million. During the same quarter in the prior year, the firm earned $0.20 EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, analysts forecast 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.