Clarivate Plc (NYSE:CLVT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its holdings in Clarivate Plc (NYSE:CLVT) by 1.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 339,728 shares of the company’s stock after selling 4,849 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Clarivate were worth $2,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baupost Group LLC MA boosted its position in shares of Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares during the period. Impactive Capital LP lifted its position in Clarivate by 0.3% during the 1st quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock worth $281,502,000 after acquiring an additional 109,247 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after acquiring an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC grew its position in Clarivate by 31.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after acquiring an additional 2,332,388 shares in the last quarter. Finally, Raymond James & Associates raised its stake in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after purchasing an additional 1,157,976 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLVT has been the subject of several analyst reports. Royal Bank of Canada decreased 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 note on Thursday, November 7th. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays dropped 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 equities 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

CLVT opened at $4.33 on Friday. The company has a market capitalization of $3.08 billion, a P/E ratio of -2.18 and a beta of 1.18. The company has a 50-day moving average of $6.34 and a 200-day moving average of $6.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. Clarivate Plc has a 1-year low of $4.33 and a 1-year high of $9.60.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share 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 during the quarter, compared to analyst estimates of $640.81 million. During the same period in the previous year, the company earned $0.18 earnings per share. Clarivate’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts expect that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Insider Activity

In related news, insider Bar Veinstein sold 120,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the completion of the sale, the insider now owns 976,583 shares of the company’s stock, valued at $6,836,081. This represents a 10.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 42.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is currently owned by 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.