River Road Asset Management LLC Cuts Stake in Clarivate Plc (NYSE:CLVT)

River Road Asset Management LLC cut its stake in shares of Clarivate Plc (NYSE:CLVT) by 18.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,794,995 shares of the company’s stock after selling 1,080,426 shares during the quarter. River Road Asset Management LLC’s holdings in Clarivate were worth $34,044,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Clarivate by 31.4% in the first quarter. Principal Financial Group Inc. now owns 39,027 shares of the company’s stock worth $290,000 after buying an additional 9,328 shares during the last quarter. J.W. Cole Advisors Inc. bought a new position in Clarivate in the 1st quarter valued at approximately $76,000. Capstone Investment Advisors LLC purchased a new stake in Clarivate during the 1st quarter valued at $305,000. Quantbot Technologies LP bought a new stake in shares of Clarivate in the 1st quarter worth $623,000. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Clarivate in the first quarter worth $8,762,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

CLVT has been the topic of several recent analyst reports. Royal Bank of Canada dropped their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Clarivate currently has an average rating of “Hold” and a consensus target price of $7.58.

Insider Activity at Clarivate

In other Clarivate news, Director Andrew Miles Snyder purchased 28,938 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average cost of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the transaction, the director now owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Andrew Miles Snyder purchased 28,938 shares of Clarivate stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the transaction, the director now directly owns 288,334 shares in the company, valued at $1,582,953.66. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,646 shares of company stock worth $1,379,111. 23.14% of the stock is owned by company insiders.

Clarivate Stock Performance

Shares of CLVT opened at $6.45 on Tuesday. Clarivate Plc has a one year low of $4.97 and a one year high of $9.60. The business has a fifty day moving average of $6.68 and a 200 day moving average of $6.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million during the quarter, compared to analyst estimates of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS. As a group, sell-side analysts anticipate that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

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.