Wealth Enhancement Advisory Services LLC Trims Holdings in Clarivate PLC $CLVT

Wealth Enhancement Advisory Services LLC trimmed its position in Clarivate PLC (NYSE:CLVT) by 40.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,613 shares of the company’s stock after selling 10,683 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Clarivate were worth $69,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarkston Capital Partners LLC lifted its holdings in Clarivate by 5.4% in the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock valued at $292,895,000 after purchasing an additional 3,794,083 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in Clarivate in the 1st quarter valued at about $47,160,000. AustralianSuper Pty Ltd purchased a new position in Clarivate in the 1st quarter valued at about $39,593,000. Vanguard Group Inc. lifted its holdings in Clarivate by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 8,969,796 shares of the company’s stock valued at $35,251,000 after purchasing an additional 218,938 shares in the last quarter. Finally, Invenomic Capital Management LP lifted its holdings in Clarivate by 28.8% in the 1st quarter. Invenomic Capital Management LP now owns 8,480,296 shares of the company’s stock valued at $33,328,000 after purchasing an additional 1,894,589 shares in the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Price Performance

CLVT opened at $3.59 on Monday. The company’s 50 day simple moving average is $4.09 and its 200 day simple moving average is $4.08. 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 1 year low of $3.04 and a 1 year high of $7.02. The stock has a market capitalization of $2.41 billion, a PE ratio of -5.79 and a beta of 1.44.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CLVT shares. Wolfe Research started coverage on shares of Clarivate in a report on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Jefferies Financial Group initiated coverage on shares of Clarivate in a report on Friday, July 18th. They set a “hold” rating and a $4.50 price objective on the stock. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target 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.