Clarivate PLC $CLVT Shares Acquired by CenterBook Partners LP

CenterBook Partners LP raised its holdings in shares of Clarivate PLC (NYSE:CLVT) by 74.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,230,121 shares of the company’s stock after purchasing an additional 526,547 shares during the quarter. CenterBook Partners LP owned 0.18% of Clarivate worth $5,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Parallel Advisors LLC raised its position in shares of Clarivate by 688.8% in the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after purchasing an additional 7,157 shares in the last quarter. Wedmont Private Capital acquired a new stake in Clarivate in the second quarter valued at $53,000. R Squared Ltd bought a new position in Clarivate during the 2nd quarter valued at $56,000. Punch & Associates Investment Management Inc. grew its holdings in Clarivate by 52.9% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 16,540 shares of the company’s stock worth $65,000 after acquiring an additional 5,720 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Clarivate in the 2nd quarter worth about $65,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CLVT has been the topic of several research analyst reports. Wolfe Research assumed coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. The Goldman Sachs Group set a $4.20 price objective on Clarivate in a research note on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarivate in a research report on Monday. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Clarivate currently has a consensus rating of “Reduce” and an average price target of $4.90.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $3.43 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $4.05. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $5.88. The stock has a market capitalization of $2.27 billion, a P/E ratio of -6.02 and a beta of 1.43.

Clarivate (NYSE:CLVT) last announced 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 business had revenue of $623.10 million for the quarter, compared to analysts’ expectations of $570.35 million. During the same period in the prior year, the firm earned $0.19 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. As a group, sell-side analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kenneth L. Cornick acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $3.45 per share, with a total value of $345,000.00. Following the acquisition, the director directly owned 1,100,000 shares in the company, valued at approximately $3,795,000. The trade was a 10.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Miles Snyder acquired 1,460,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the completion of the transaction, 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 2,285,000 shares of company stock worth $7,688,800 over the last quarter. 23.18% of the stock is currently owned by company insiders.

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.