11,475 Shares in Clarivate Plc (NYSE:CLVT) Purchased by Kathmere Capital Management LLC

Kathmere Capital Management LLC purchased a new position in shares of Clarivate Plc (NYSE:CLVT) during the fourth quarter, HoldingsChannel reports. The firm purchased 11,475 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after acquiring an additional 3,245 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in Clarivate by 3.8% during the third quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock worth $1,149,000 after purchasing an additional 5,945 shares during the period. Virtu Financial LLC bought a new position in Clarivate during the third quarter worth $236,000. Geode Capital Management LLC increased its holdings in shares of Clarivate by 8.6% in the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after purchasing an additional 571,289 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Clarivate in the third quarter valued at about $1,072,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

Shares of Clarivate stock opened at $5.10 on Friday. 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 $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60. The company has a 50-day simple moving average of $5.19 and a two-hundred day simple moving average of $5.98.

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

Clarivate announced that its Board of Directors has initiated a share repurchase program on Monday, December 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Michael J. Angelakis purchased 765,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the transaction, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 22.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CLVT shares. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Barclays lowered their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. One equities research analyst has 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.com, Clarivate currently has an average rating of “Hold” and an average target price of $7.10.

Clarivate Company 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.