Timucuan Asset Management Inc. FL Takes $8.86 Million Position in Clarivate PLC $CLVT

Key Points

• Timucuan Asset Management Inc. FL purchased a new position in Clarivate PLC, acquiring 2,254,318 shares valued at approximately $8.86 million, making it the 23rd largest holding in their portfolio.
• Clarivate PLC's analysts have set a consensus price target of $4.83, with ratings reflecting a mix of "hold" and "sell" recommendations.
• Insider activity includes the sale of 100,000 shares by insider James Gordon Samson, which decreased his position by 7.29% and signals potential concerns about the stock's performance.

Timucuan Asset Management Inc. FL purchased a new position in shares of Clarivate PLC (NYSE:CLVT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,254,318 shares of the company's stock, valued at approximately $8,859,000. Clarivate accounts for approximately 0.3% of Timucuan Asset Management Inc. FL's investment portfolio, making the stock its 23rd largest position. Timucuan Asset Management Inc. FL owned 0.33% of Clarivate as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Clarkston Capital Partners LLC boosted its position in Clarivate by 5.4% during the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company's stock worth $292,895,000 after purchasing an additional 3,794,083 shares during the period. Hsbc Holdings PLC purchased a new stake in Clarivate during the 1st quarter worth $435,000. Quantbot Technologies LP boosted its position in Clarivate by 44.9% in the 1st quarter. Quantbot Technologies LP now owns 262,779 shares of the company's stock valued at $1,033,000 after buying an additional 81,410 shares during the last quarter. American Century Companies Inc. boosted its position in Clarivate by 31.1% in the 1st quarter. American Century Companies Inc. now owns 6,633,654 shares of the company's stock valued at $26,070,000 after buying an additional 1,572,378 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in Clarivate by 2.4% in the 1st quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company's stock valued at $428,000 after buying an additional 2,520 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Stock Down 3.8%

Shares of CLVT stock traded down $0.17 during trading hours on Tuesday, hitting $4.19. 1,731,196 shares of the company were exchanged, compared to its average volume of 5,558,513. 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 one year low of $3.04 and a one year high of $7.15. The business's 50-day simple moving average is $4.26 and its two-hundred day simple moving average is $4.15. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of -6.75 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 business had revenue of $621.40 million for the quarter, compared to analysts' expectations of $587.17 million. During the same quarter last year, the company posted $0.20 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Sell-side analysts predict that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Insider Transactions at Clarivate

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 23.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CLVT. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Jefferies Financial Group began 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. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Clarivate presently has a consensus rating of "Reduce" and a consensus target price of $4.83.

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.