Sanctuary Advisors LLC Makes New Investment in Clarivate Plc (NYSE:CLVT)

Sanctuary Advisors LLC acquired a new stake in shares of Clarivate Plc (NYSE:CLVT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,350 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds have also recently modified their holdings of CLVT. Nisa Investment Advisors LLC acquired a new position in shares of Clarivate during the second quarter valued at about $26,000. Evermay Wealth Management LLC acquired a new position in Clarivate in the 1st quarter worth approximately $31,000. Truist Financial Corp acquired a new position in Clarivate in the 2nd quarter worth approximately $63,000. Forum Financial Management LP acquired a new position in Clarivate in the 2nd quarter worth approximately $75,000. Finally, J.W. Cole Advisors Inc. acquired a new position in Clarivate in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Insider Activity

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the transaction, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the transaction, the director now directly owns 288,334 shares in the company, valued at approximately $1,582,953.66. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 197,646 shares of company stock worth $1,379,111 in the last quarter. Corporate insiders own 22.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.58.

Clarivate Stock Performance

Clarivate stock opened at $6.70 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate Plc has a 12 month low of $4.97 and a 12 month high of $9.60. The stock’s 50 day simple moving average is $6.64 and its two-hundred day simple moving average is $6.38. The firm has a market cap of $4.48 billion, a PE ratio of -4.04 and a beta of 1.17.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that Clarivate Plc will post 0.64 earnings per share for the current year.

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.