Pitcairn Co. Acquires New Holdings in Clarivate Plc (NYSE:CLVT)

Pitcairn Co. acquired a new stake in Clarivate Plc (NYSE:CLVT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,016 shares of the company’s stock, valued at approximately $100,000.

A number of other large investors have also recently added to or reduced their stakes in CLVT. Price T Rowe Associates Inc. MD grew its stake in Clarivate by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 247,446 shares of the company’s stock valued at $1,839,000 after acquiring an additional 13,103 shares during the last quarter. Boston Partners grew its stake in Clarivate by 76.3% in the 1st quarter. Boston Partners now owns 557,496 shares of the company’s stock valued at $4,140,000 after acquiring an additional 241,292 shares during the last quarter. Transcend Capital Advisors LLC acquired a new stake in Clarivate in the 2nd quarter valued at about $86,000. SG Americas Securities LLC acquired a new stake in Clarivate in the 2nd quarter valued at about $1,410,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Clarivate by 19.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 52,229 shares of the company’s stock valued at $297,000 after acquiring an additional 8,430 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now owns 916,583 shares in the company, valued at $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 22.77% of the company’s stock.

Clarivate Trading Up 3.2 %

Shares of CLVT stock opened at $5.76 on Friday. The firm has a market cap of $4.09 billion, a P/E ratio of -2.89 and a beta of 1.18. Clarivate Plc has a 1-year low of $4.25 and a 1-year high of $9.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The firm’s 50-day simple moving average is $6.13 and its 200-day simple moving average is $6.11.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on CLVT. Royal Bank of Canada reduced their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays reduced their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.25.

About Clarivate

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.