KBC Group NV Purchases 2,549 Shares of Clarivate Plc (NYSE:CLVT)

KBC Group NV lifted its position in shares of Clarivate Plc (NYSE:CLVT) by 33.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,225 shares of the company’s stock after acquiring an additional 2,549 shares during the period. KBC Group NV’s holdings in Clarivate were worth $73,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baupost Group LLC MA grew its position in shares of Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares during the period. Capital World Investors purchased a new stake in Clarivate in the first quarter worth about $30,104,000. Dimensional Fund Advisors LP grew its holdings in Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after purchasing an additional 2,332,388 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Clarivate by 37.5% during the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Price Performance

NYSE CLVT opened at $5.25 on Friday. Clarivate Plc has a one year low of $4.25 and a one year high of $9.60. The stock has a 50-day moving average of $6.19 and a 200 day moving average of $6.12. 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 company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -2.64 and a beta of 1.18.

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

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares in the company, valued at approximately $6,836,081. This trade represents a 10.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. The trade was a 42.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CLVT. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. 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. Finally, Barclays cut their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Clarivate presently has a consensus rating of “Hold” and a consensus price target 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.