Clarivate Plc (NYSE:CLVT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its position in shares of Clarivate Plc (NYSE:CLVT) by 30.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,343 shares of the company’s stock after selling 86,151 shares during the period. Jane Street Group LLC’s holdings in Clarivate were worth $1,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Clarivate by 33.2% in the 3rd 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 last quarter. Truist Financial Corp bought a new position in Clarivate during the 2nd quarter worth approximately $63,000. Forum Financial Management LP acquired a new stake in shares of Clarivate during the second quarter worth $75,000. Pitcairn Co. acquired a new position in Clarivate in the third quarter valued at approximately $100,000. Finally, Empowered Funds LLC bought a new position in shares of Clarivate during the third quarter valued at approximately $101,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Insider Transactions at Clarivate

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the transaction, the director now owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now directly owns 916,583 shares in the company, 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. 23.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Clarivate presently has a consensus rating of “Hold” and an average target price of $7.10.

Clarivate Price Performance

Shares of NYSE:CLVT opened at $5.12 on Friday. The company has a market cap of $3.64 billion, a P/E ratio of -2.57 and a beta of 1.12. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The company’s fifty day moving average is $5.51 and its two-hundred day moving average is $6.02.

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

Clarivate announced that its Board of Directors has initiated a stock repurchase program on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Clarivate 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.