Timucuan Asset Management Inc. FL Takes 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 filing 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 0.3% of Timucuan Asset Management Inc. FL's investment portfolio, making the stock its 23rd biggest holding. Timucuan Asset Management Inc. FL owned about 0.33% of Clarivate as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Neuberger Berman Group LLC boosted its holdings in Clarivate by 2.4% during the 1st quarter. Neuberger Berman Group LLC now owns 108,980 shares of the company's stock valued at $428,000 after acquiring an additional 2,520 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Clarivate by 7.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,253 shares of the company's stock valued at $158,000 after acquiring an additional 2,858 shares during the period. Millstone Evans Group LLC boosted its holdings in Clarivate by 156.6% during the 1st quarter. Millstone Evans Group LLC now owns 7,545 shares of the company's stock valued at $30,000 after acquiring an additional 4,605 shares during the period. Deutsche Bank AG boosted its holdings in Clarivate by 27.4% during the 4th quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock valued at $133,000 after acquiring an additional 5,641 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Clarivate by 34.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock valued at $142,000 after acquiring an additional 7,247 shares during the period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group began coverage on Clarivate in a report on Friday, July 18th. They set a "hold" rating and a $4.50 target price for the company. Wall Street Zen downgraded Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $4.83.

Clarivate Stock Up 1.5%

Shares of Clarivate stock traded up $0.07 on Monday, reaching $4.38. 4,740,005 shares of the company were exchanged, compared to its average volume of 4,575,731. The stock's 50 day moving average price is $4.25 and its 200-day moving average price is $4.15. The company has a market cap of $2.94 billion, a P/E 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 debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91.

Clarivate (NYSE:CLVT - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $621.40 million during the quarter, compared to analysts' expectations of $587.17 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The firm's revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, equities analysts forecast that Clarivate PLC will post 0.63 EPS for the current year.

Insiders Place Their Bets

In related news, insider James Gordon Samson sold 100,000 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 1,271,103 shares in the company, valued at $5,758,096.59. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 23.18% of the stock is currently owned by insiders.

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.