Ironwood Investment Counsel LLC Decreases Position in Clarivate Plc (NYSE:CLVT)

Ironwood Investment Counsel LLC lowered its stake in Clarivate Plc (NYSE:CLVT) by 15.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,950 shares of the company’s stock after selling 12,825 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Clarivate were worth $511,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Clarivate in the second quarter valued at about $1,410,000. Boston Partners increased its stake in Clarivate by 76.3% during the first quarter. Boston Partners now owns 557,496 shares of the company’s stock valued at $4,140,000 after purchasing an additional 241,292 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Clarivate during the second quarter worth $2,251,000. Raymond James & Associates lifted its position in shares of Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after buying an additional 1,157,976 shares during the last quarter. Finally, Baupost Group LLC MA boosted its holdings in shares of Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after buying an additional 8,331,233 shares during the period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Trading Down 0.5 %

Shares of CLVT stock opened at $5.73 on Friday. The firm has a market capitalization of $4.07 billion, a PE ratio of -2.88 and a beta of 1.18. 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 $4.25 and a 1 year high of $9.60. The stock has a fifty day moving average of $6.10 and a two-hundred day moving average of $6.10.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The business had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. During the same quarter in the prior 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. As a group, research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Clarivate news, Director Michael J. Angelakis bought 765,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were acquired at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the acquisition, the director now directly owns 3,465,000 shares of the company’s stock, valued at $17,983,350. This trade represents a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at approximately $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.