Empowered Funds LLC Acquires New Shares in Clarivate Plc (NYSE:CLVT)

Empowered Funds LLC purchased a new stake in Clarivate Plc (NYSE:CLVT) during the 3rd quarter, Holdings Channel reports. The firm purchased 14,204 shares of the company’s stock, valued at approximately $101,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CLVT. Nisa Investment Advisors LLC acquired a new position in shares of Clarivate in the 2nd quarter worth approximately $26,000. Truist Financial Corp acquired a new position in shares of Clarivate during the 2nd quarter worth $63,000. KBC Group NV lifted its position in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares during the last quarter. Forum Financial Management LP acquired a new stake in Clarivate in the 2nd quarter worth approximately $75,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Clarivate by 749.2% during the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after buying an additional 12,909 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLVT has been the topic of several research analyst reports. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Barclays dropped their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.25.

Insider Activity at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 42.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael J. Angelakis bought 1,500,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was bought at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the purchase, the director now owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 197,646 shares of company stock valued at $1,379,111. Corporate insiders own 23.14% of the company’s stock.

Clarivate Stock Down 2.5 %

Clarivate stock opened at $5.60 on Wednesday. The firm’s fifty day moving average is $6.17 and its 200 day moving average is $6.11. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a market capitalization of $3.97 billion, a PE ratio of -2.80 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 EPS. As a group, sell-side analysts predict that Clarivate Plc will post 0.63 EPS for the current fiscal year.

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.