Clearline Capital LP Grows Stock Holdings in Clarivate Plc (NYSE:CLVT)

Clearline Capital LP increased its stake in Clarivate Plc (NYSE:CLVT) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,247,322 shares of the company’s stock after buying an additional 158,900 shares during the period. Clarivate accounts for about 0.7% of Clearline Capital LP’s holdings, making the stock its 22nd largest holding. Clearline Capital LP owned 0.32% of Clarivate worth $15,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Josh Arnold Investment Consultant LLC bought a new stake in Clarivate during the 3rd quarter valued at about $604,000. Verition Fund Management LLC increased its position in shares of Clarivate by 707.5% during the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock valued at $1,119,000 after acquiring an additional 138,031 shares in the last quarter. Capstone Investment Advisors LLC purchased a new position in Clarivate in the 3rd quarter worth approximately $440,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Clarivate by 112.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Clarivate by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,006 shares of the company’s stock valued at $554,000 after purchasing an additional 7,014 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

Shares of NYSE:CLVT opened at $5.73 on Monday. 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 stock has a market capitalization of $4.07 billion, a PE ratio of -2.88 and a beta of 1.18. The firm’s 50 day moving average price is $6.08 and its 200-day moving average price is $6.10. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting 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 business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. During the same period last year, the firm earned $0.18 earnings per share. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Equities research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Insider Buying and Selling at Clarivate

In other news, Director Michael J. Angelakis acquired 1,500,000 shares of Clarivate stock in a transaction dated Wednesday, November 20th. The stock was purchased at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the purchase, the director now directly owns 1,500,000 shares in the company, valued at approximately $7,665,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of Clarivate stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. 22.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several recent analyst reports. Barclays decreased their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reduced 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 note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.