Clarivate Plc (NYSE:CLVT) Holdings Cut by Raymond James Trust N.A.

Raymond James Trust N.A. lowered its stake in shares of Clarivate Plc (NYSE:CLVT) by 57.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,637 shares of the company’s stock after selling 131,067 shares during the period. Raymond James Trust N.A.’s holdings in Clarivate were worth $686,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in Clarivate in the second quarter valued at about $26,000. Truist Financial Corp bought a new stake in shares of Clarivate in the 2nd quarter valued at approximately $63,000. KBC Group NV increased its holdings in 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 bought a new position in Clarivate during the second quarter valued at approximately $75,000. Finally, Headlands Technologies LLC lifted its stake in Clarivate by 749.2% in the second quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock valued at $83,000 after acquiring an additional 12,909 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Barclays cut their price target 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. Royal Bank of Canada reduced their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.25.

Clarivate Trading Up 9.3 %

Shares of NYSE:CLVT opened at $5.74 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s 50-day moving average is $6.17 and its 200-day moving average is $6.11. The company has a market cap of $4.08 billion, a P/E ratio of -2.88 and a beta of 1.18. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60.

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

Insider Buying and Selling

In other news, Director Michael J. Angelakis bought 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the transaction, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company’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 value of $420,000.00. Following the completion of the transaction, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,646 shares of company stock valued at $1,379,111. 23.14% of the stock is owned by company 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.