Clarivate PLC $CLVT Shares Bought by Perpetual Ltd

Perpetual Ltd lifted its holdings in Clarivate PLC (NYSE:CLVT) by 3.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,567,267 shares of the company’s stock after purchasing an additional 281,950 shares during the period. Perpetual Ltd’s holdings in Clarivate were worth $32,813,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CLVT. HG Vora Capital Management LLC bought a new position in shares of Clarivate during the first quarter valued at approximately $47,160,000. Norges Bank acquired a new position in Clarivate during the 2nd quarter valued at approximately $19,273,000. Bank of America Corp DE grew its stake in Clarivate by 506.9% during the 2nd quarter. Bank of America Corp DE now owns 2,870,668 shares of the company’s stock worth $12,344,000 after buying an additional 2,397,670 shares during the last quarter. Timucuan Asset Management Inc. FL acquired a new stake in Clarivate in the first quarter worth $8,859,000. Finally, Man Group plc lifted its stake in Clarivate by 228.1% in the second quarter. Man Group plc now owns 3,091,139 shares of the company’s stock valued at $13,292,000 after buying an additional 2,148,943 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Kenneth L. Cornick bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $3.45 per share, for a total transaction of $345,000.00. Following the acquisition, the director directly owned 1,100,000 shares of the company’s stock, valued at $3,795,000. This trade represents a 10.00% 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 309,902 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the sale, the insider directly owned 848,811 shares of the company’s stock, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders acquired 2,285,000 shares of company stock valued at $7,688,800. 23.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on CLVT shares. The Goldman Sachs Group set a $4.20 price target on shares of Clarivate in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday. Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They issued a “peer perform” rating on the stock. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price target (down previously from $5.00) on shares of Clarivate in a report on Wednesday. Finally, Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $4.43.

Clarivate Trading Up 2.2%

Shares of Clarivate stock opened at $3.51 on Friday. The business has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $3.96. Clarivate PLC has a fifty-two week low of $3.04 and a fifty-two week high of $5.74. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -6.15 and a beta of 1.51. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90.

About Clarivate

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.