Apollon Wealth Management LLC Decreases Stake in Clarivate Plc (NYSE:CLVT)

Apollon Wealth Management LLC lessened its holdings in Clarivate Plc (NYSE:CLVT) by 37.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,926 shares of the company’s stock after selling 6,489 shares during the period. Apollon Wealth Management LLC’s holdings in Clarivate were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Clarivate by 5.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock worth $168,000 after buying an additional 1,580 shares during the period. Arizona State Retirement System grew its stake in shares of Clarivate by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock worth $479,000 after purchasing an additional 2,064 shares during the period. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth approximately $31,000. Nisa Investment Advisors LLC acquired a new stake in shares of Clarivate during the 2nd quarter worth approximately $26,000. Finally, SkyView Investment Advisors LLC grew its stake in shares of Clarivate by 3.8% during the 1st quarter. SkyView Investment Advisors LLC now owns 131,864 shares of the company’s stock worth $980,000 after purchasing an additional 4,789 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CLVT. Royal Bank of Canada dropped their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Barclays dropped their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Finally, William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two investment 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 a consensus rating of “Hold” and an average price target of $7.25.

Clarivate Trading Up 6.7 %

Shares of CLVT stock opened at $4.62 on Tuesday. The stock’s fifty day moving average is $6.30 and its two-hundred day moving average is $6.16. 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 firm has a market capitalization of $3.28 billion, a P/E ratio of -2.32 and a beta of 1.18. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60.

Clarivate (NYSE:CLVT) last posted 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 business had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts expect that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Insider Transactions at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock worth $1,379,111 in the last quarter. Company insiders own 22.77% of the company’s stock.

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.