Clarivate Plc (NYSE:CLVT) Position Lessened by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC cut its position in shares of Clarivate Plc (NYSE:CLVT) by 47.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,670 shares of the company’s stock after selling 45,986 shares during the period. Integrated Investment Consultants LLC’s holdings in Clarivate were worth $257,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its position in Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after buying an additional 91,384 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Clarivate during the 2nd quarter valued at about $2,251,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Clarivate by 112.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares in the last quarter. Baupost Group LLC MA lifted its holdings in Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after purchasing an additional 8,331,233 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in Clarivate by 707.5% during the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock worth $1,119,000 after purchasing an additional 138,031 shares during the period. Institutional investors own 85.72% of the company’s stock.

Insider Buying and Selling

In other Clarivate news, Director Michael J. Angelakis bought 1,500,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the purchase, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.14% of the stock is owned by company insiders.

Clarivate Stock Performance

NYSE CLVT opened at $5.10 on Friday. The company’s fifty day moving average is $5.19 and its two-hundred day moving average is $5.98. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same period in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate announced that its board has authorized a stock repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CLVT. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. One equities research analyst has 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.com, the stock has an average rating of “Hold” and an average target price of $7.10.

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.