Clarivate Plc (NYSE:CLVT) Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP decreased its position in Clarivate Plc (NYSE:CLVT) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,918,561 shares of the company’s stock after selling 835,912 shares during the period. Clarivate comprises approximately 2.3% of Invenomic Capital Management LP’s holdings, making the stock its 7th largest holding. Invenomic Capital Management LP’s holdings in Clarivate were worth $42,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baupost Group LLC MA boosted its position in shares of Clarivate by 27.2% during 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. Dimensional Fund Advisors LP grew its stake in shares of Clarivate by 19.5% in 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 during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake 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 buying an additional 2,332,388 shares during the period. Brown Brothers Harriman & Co. boosted its stake in Clarivate by 37.5% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after purchasing an additional 1,704,761 shares during the last quarter. Finally, Clearline Capital LP increased its position in shares of Clarivate by 141.2% during the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock valued at $11,883,000 after purchasing an additional 1,222,646 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis bought 1,500,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the acquisition, the director now directly owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 23.14% of the company’s stock.

Clarivate Price Performance

CLVT opened at $5.81 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $6.08 and its 200-day simple moving average is $6.10. Clarivate Plc has a one year low of $4.25 and a one year 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. The company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Sell-side analysts anticipate that Clarivate Plc will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CLVT has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Barclays decreased their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.25.

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.