Russell Investments Group Ltd. Sells 2,247,509 Shares of 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. lowered its position in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 88.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. acquired a new stake in shares of Clarivate during the 1st quarter worth about $30,000. Millstone Evans Group LLC increased its position in shares of Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock worth $30,000 after purchasing an additional 4,605 shares in the last quarter. MQS Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth about $44,000. Essex Financial Services Inc. acquired a new stake in Clarivate in the 1st quarter valued at about $45,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Clarivate in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Insiders Place Their Bets

In related news, insider James Gordon Samson sold 100,000 shares of Clarivate 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 transaction, the insider owned 1,271,103 shares of the company's stock, valued at $5,758,096.59. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 23.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on CLVT shares. Jefferies Financial Group started coverage on shares of Clarivate in a research report on Friday, July 18th. They issued a "hold" rating and a $4.50 price objective for the company. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Wolfe Research started coverage on shares of Clarivate in a research report on Wednesday. They issued a "peer perform" rating for the company. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Clarivate currently has a consensus rating of "Reduce" and a consensus target price of $4.83.

Clarivate Trading Down 1.1%

Shares of NYSE:CLVT traded down $0.05 during trading on Wednesday, hitting $4.15. 3,509,997 shares of the company's stock were exchanged, compared to its average volume of 4,403,244. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $7.15. The firm has a 50-day moving average price of $4.26 and a two-hundred day moving average price of $4.15. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.79 billion, a P/E ratio of -6.69 and a beta of 1.40.

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. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. 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 company 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. Equities analysts predict that Clarivate PLC will post 0.63 earnings per share for the current year.

Clarivate Company 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.