Parallel Advisors LLC Raises Position in Clarivate PLC $CLVT

Parallel Advisors LLC grew its holdings in shares of Clarivate PLC (NYSE:CLVT) by 688.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,196 shares of the company’s stock after purchasing an additional 7,157 shares during the quarter. Parallel Advisors LLC’s holdings in Clarivate were worth $35,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in shares of Clarivate by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,429,086 shares of the company’s stock valued at $9,546,000 after purchasing an additional 88,670 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Clarivate by 1.4% in the 1st quarter. Voya Investment Management LLC now owns 4,855,241 shares of the company’s stock valued at $19,081,000 after acquiring an additional 66,716 shares during the period. HG Vora Capital Management LLC acquired a new position in shares of Clarivate in the 1st quarter valued at $47,160,000. Deutsche Bank AG increased its position in shares of Clarivate by 27.4% in the 4th quarter. Deutsche Bank AG now owns 26,217 shares of the company’s stock valued at $133,000 after acquiring an additional 5,641 shares during the period. Finally, Murchinson Ltd. acquired a new position in shares of Clarivate in the 1st quarter valued at $982,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Insiders Place Their Bets

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total transaction of $453,000.00. Following the sale, the insider directly owned 1,271,103 shares of the company’s stock, valued at approximately $5,758,096.59. This trade represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.18% of the company’s stock.

Clarivate Price Performance

Shares of CLVT opened at $3.71 on Friday. The business’s 50-day moving average is $4.18 and its two-hundred day moving average is $4.11. The company has a market capitalization of $2.49 billion, a P/E ratio of -5.98 and a beta of 1.40. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.91 and a current ratio of 0.91. Clarivate PLC has a fifty-two week low of $3.04 and a fifty-two week high of $7.15.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The company had revenue of $621.40 million for the quarter, compared to the consensus estimate of $587.17 million. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Research analysts predict that Clarivate PLC will post 0.63 earnings per share for the current year.

Analyst Ratings Changes

CLVT has been the topic of several research reports. Wolfe Research initiated coverage on Clarivate in a research report on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Jefferies Financial Group initiated coverage on Clarivate in a research report on Friday, July 18th. They issued a “hold” rating and a $4.50 target price on the stock. Finally, Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $4.83.

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.