Vanguard Group Inc. Purchases 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 Clarivate PLC (NYSE:CLVT - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,969,796 shares of the company's stock after purchasing an additional 218,938 shares during the quarter. Vanguard Group Inc. owned 1.31% of Clarivate worth $35,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Truffle Hound Capital LLC raised its stake in shares of Clarivate by 38.9% in the first quarter. Truffle Hound Capital LLC now owns 250,000 shares of the company's stock worth $982,000 after purchasing an additional 70,000 shares during the last quarter. Bryce Point Capital LLC purchased a new position in shares of Clarivate in the first quarter worth $942,000. Millstone Evans Group LLC raised its stake in shares of Clarivate by 156.6% in the first 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 during the last quarter. IFP Advisors Inc raised its stake in shares of Clarivate by 91.6% in the first quarter. IFP Advisors Inc now owns 39,379 shares of the company's stock worth $156,000 after purchasing an additional 18,824 shares during the last quarter. Finally, AustralianSuper Pty Ltd purchased a new position in shares of Clarivate in the first quarter worth $39,593,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Clarivate Stock Performance

CLVT traded up $0.07 during midday trading on Monday, reaching $4.38. The company had a trading volume of 4,740,005 shares, compared to its average volume of 4,575,731. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The business has a 50-day moving average of $4.25 and a two-hundred day moving average of $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.

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 analysts' consensus estimates of $0.18. The business 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 business's quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, equities research analysts predict that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLVT has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Clarivate in a research report on Friday, July 18th. They set a "hold" rating and a $4.50 price objective for the company. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $4.83.

Insider Buying and Selling

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total value 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. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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.