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

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

Several other hedge funds have also modified their holdings of CLVT. Baupost Group LLC MA raised its stake in shares of Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after acquiring an additional 8,331,233 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Clarivate by 31.5% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after purchasing an additional 2,332,388 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Clarivate by 37.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock worth $35,558,000 after purchasing an additional 1,704,761 shares in the last quarter. Finally, Clearline Capital LP grew its stake in Clarivate by 141.2% during the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock worth $11,883,000 after buying an additional 1,222,646 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays cut their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.25.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $5.73 on Friday. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of -2.88 and a beta of 1.18. Clarivate Plc has a 12 month low of $4.25 and a 12 month high of $9.60. The company has a 50 day simple moving average of $6.10 and a two-hundred day simple moving average of $6.10. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, meeting the consensus estimate of $0.19. The company had revenue of $622.20 million for the quarter, compared to analyst estimates 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 revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 earnings per share. As a group, analysts predict that Clarivate Plc will post 0.63 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael J. Angelakis purchased 765,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were purchased at an average cost of $5.19 per share, with a total value of $3,970,350.00. Following the completion of the acquisition, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This represents a 28.33 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

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.