Clarivate Plc (NYSE:CLVT) Stock Position Trimmed by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Clarivate Plc (NYSE:CLVT) by 1.4% in the third quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Clarivate by 21.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,841 shares of the company’s stock worth $254,000 after acquiring an additional 6,284 shares during the period. Creative Planning bought a new stake in shares of Clarivate during the third quarter valued at about $142,000. Handelsbanken Fonder AB lifted its holdings in Clarivate by 18.6% in the third quarter. Handelsbanken Fonder AB now owns 114,100 shares of the company’s stock worth $810,000 after purchasing an additional 17,900 shares during the period. Sanctuary Advisors LLC bought a new position in Clarivate in the 2nd quarter valued at about $258,000. Finally, Truist Financial Corp acquired a new position in Clarivate during the 2nd quarter valued at about $63,000. Institutional investors own 85.72% of the company’s stock.

Insider Transactions at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred on 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 of the company’s stock, valued at $160,251.75. This trade represents a 42.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 approximately $6,416,081. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,646 shares of company stock valued at $1,379,111 over the last three months. Company insiders own 22.77% of the company’s stock.

Clarivate Stock Down 3.8 %

NYSE CLVT opened at $4.33 on Friday. Clarivate Plc has a 12 month low of $4.33 and a 12 month high of $9.60. 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’s 50 day simple moving average is $6.34 and its 200 day simple moving average is $6.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

Clarivate (NYSE:CLVT) last posted 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 analysts’ expectations of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. Equities research analysts expect that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CLVT shares. Barclays reduced their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada dropped their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Two research 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $7.25.

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.