Vanguard Group Inc. Buys 218,938 Shares of Clarivate PLC $CLVT

Key Points

• Vanguard Group Inc. increased its stake in Clarivate PLC by 2.5%, owning nearly 9 million shares valued at approximately $35.25 million.
• Clarivate reported earnings of $0.18 EPS for the quarter, meeting analyst estimates, but noted a 4.4% year-over-year decline in revenue.
• Over 85% of Clarivate's stock is held by institutional investors, indicating strong institutional interest in the company.

Vanguard Group Inc. lifted its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 2.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,969,796 shares of the company's stock after buying an additional 218,938 shares during the period. Vanguard Group Inc. owned about 1.31% of Clarivate worth $35,251,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CLVT. Bessemer Group Inc. acquired a new position in shares of Clarivate during the 1st quarter worth about $30,000. Millstone Evans Group LLC boosted its stake 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 buying an additional 4,605 shares during the last quarter. MQS Management LLC acquired a new position in shares of Clarivate during the 1st quarter worth about $44,000. Essex Financial Services Inc. acquired a new position in shares of Clarivate during the 1st quarter worth about $45,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Clarivate during the 4th quarter worth about $56,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Clarivate Stock Performance

Clarivate stock traded up $0.07 during trading hours on Monday, hitting $4.38. The company had a trading volume of 4,740,005 shares, compared to its average volume of 4,575,731. The firm has a market cap of $2.94 billion, a PE ratio of -7.06 and a beta of 1.40. 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 PLC has a one year low of $3.04 and a one year high of $7.15. The firm has a 50-day moving average of $4.26 and a 200 day moving average of $4.15.

Clarivate (NYSE:CLVT - Get Free Report) last announced its 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 for the quarter, compared to analysts' expectations of $587.17 million. During the same period last year, the firm earned $0.20 earnings per share. The business's revenue for the quarter was down 4.4% on a year-over-year basis. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, sell-side analysts expect that Clarivate PLC will post 0.63 earnings per share for the current year.

Insider Activity

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 transaction of $453,000.00. Following the sale, the insider owned 1,271,103 shares in the company, valued at approximately $5,758,096.59. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 23.18% of the company's stock.

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.