54,951 Shares in Clarivate PLC $CLVT Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new position in shares of Clarivate PLC (NYSE:CLVT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 54,951 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in Clarivate during the first quarter worth $184,000. Bank of New York Mellon Corp raised its stake in shares of Clarivate by 3.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,429,086 shares of the company’s stock worth $9,546,000 after buying an additional 88,670 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Clarivate in the 1st quarter worth about $44,000. AustralianSuper Pty Ltd acquired a new stake in Clarivate in the 1st quarter valued at about $39,593,000. Finally, IFP Advisors Inc increased its holdings in Clarivate by 91.6% during the 1st quarter. IFP Advisors Inc now owns 39,379 shares of the company’s stock valued at $156,000 after acquiring an additional 18,824 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kenneth L. Cornick purchased 225,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $3.52 per share, with a total value of $792,000.00. Following the completion of the transaction, the director owned 1,000,000 shares of the company’s stock, valued at approximately $3,520,000. This trade represents a 29.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Miles Snyder purchased 1,460,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was bought at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the acquisition, the director owned 2,247,510 shares in the company, valued at $7,484,208.30. The trade was a 185.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 2,185,000 shares of company stock valued at $7,343,800 in the last 90 days. 23.18% of the stock is owned by company insiders.

Clarivate Stock Up 0.7%

Shares of NYSE CLVT opened at $3.45 on Friday. The firm has a market cap of $2.28 billion, a P/E ratio of -6.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Clarivate PLC has a 1 year low of $3.04 and a 1 year high of $5.88. The firm’s 50 day moving average price is $3.83 and its 200 day moving average price is $4.09.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.The company had revenue of $623.10 million for the quarter, compared to analyst estimates of $570.35 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up .1% 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 anticipate that Clarivate PLC will post 0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CLVT shares. Jefferies Financial Group started coverage on shares of Clarivate in a report on Friday, July 18th. They issued a “hold” rating and a $4.50 price target on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research note on Wednesday. Wolfe Research initiated coverage on Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group set a $4.20 price target on Clarivate in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $4.90.

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.