Capstone Investment Advisors LLC Acquires Shares of 61,931 Clarivate Plc (NYSE:CLVT)

Capstone Investment Advisors LLC bought a new position in Clarivate Plc (NYSE:CLVT) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 61,931 shares of the company’s stock, valued at approximately $440,000.

A number of other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of Clarivate during the 2nd quarter worth approximately $26,000. Truist Financial Corp purchased a new stake in Clarivate during the second quarter valued at $63,000. KBC Group NV lifted its position in Clarivate by 33.2% during the third 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 last quarter. Forum Financial Management LP purchased a new position in shares of Clarivate in the 2nd quarter worth $75,000. Finally, Headlands Technologies LLC increased its holdings in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after buying an additional 12,909 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays cut their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.25.

Insider Transactions at Clarivate

In other news, Director Michael J. Angelakis acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the acquisition, the director now directly owns 1,500,000 shares of the company’s stock, valued at $7,665,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the 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. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.77% of the company’s stock.

Clarivate Price Performance

Shares of CLVT stock opened at $5.73 on Friday. The stock has a 50 day moving average price of $6.10 and a 200 day moving average price of $6.10. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $4.07 billion, a P/E ratio of -2.88 and a beta of 1.18.

Clarivate (NYSE:CLVT) last released its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Clarivate Plc will post 0.63 earnings per share for the current year.

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.