Kathmere Capital Management LLC bought a new stake in Clarivate Plc (NYSE:CLVT – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,475 shares of the company’s stock, valued at approximately $58,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after purchasing an additional 3,245 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Clarivate during the second quarter worth approximately $63,000. KBC Group NV lifted its holdings in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares during the period. MQS Management LLC acquired a new stake in Clarivate during the 2nd quarter worth $91,000. Finally, Pitcairn Co. bought a new stake in shares of Clarivate during the 3rd quarter valued at $100,000. Institutional investors own 85.72% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently commented on CLVT. Royal Bank of Canada decreased their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays lowered 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. One investment analyst has 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.10.
Insider Buying and Selling at Clarivate
In other news, Director Michael J. Angelakis purchased 765,000 shares of Clarivate stock in a transaction on Friday, November 22nd. The stock was purchased at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the transaction, the director now directly owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 22.77% of the company’s stock.
Clarivate Price Performance
NYSE CLVT opened at $5.10 on Friday. 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 has a market cap of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. The business has a 50 day simple moving average of $5.19 and a 200 day simple moving average of $5.98. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60.
Clarivate (NYSE:CLVT – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.19. The company 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 revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Analysts anticipate that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.
Clarivate declared that its Board of Directors has approved a stock buyback program on Monday, December 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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.
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