Clarivate Plc (NYSE:CLVT) Shares Sold by Barclays PLC

Barclays PLC reduced its position in shares of Clarivate Plc (NYSE:CLVT) by 46.0% during the third quarter, HoldingsChannel reports. The firm owned 120,218 shares of the company’s stock after selling 102,591 shares during the quarter. Barclays PLC’s holdings in Clarivate were worth $854,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Clarivate by 5.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock valued at $168,000 after buying an additional 1,580 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Clarivate by 2.5% in the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after acquiring an additional 2,064 shares in the last quarter. KBC Group NV increased its position in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the period. Integrated Investment Consultants LLC raised its position in Clarivate by 2.9% in the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock worth $686,000 after acquiring an additional 2,696 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Clarivate by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after acquiring an additional 2,865 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $5.08 on Wednesday. The business’s 50 day moving average is $5.48 and its two-hundred day moving average is $6.03. The company has a market cap of $3.61 billion, a P/E ratio of -2.55 and a beta of 1.12. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same quarter last year, the company earned $0.18 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate declared that its board has initiated a stock buyback program on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the transaction, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 22.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CLVT shares. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. 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. Finally, Royal Bank of Canada cut their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Clarivate presently has a consensus rating of “Hold” and an average price target of $7.10.

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.