Clarivate Plc (NYSE:CLVT) Shares Bought by Iridian Asset Management LLC CT

Iridian Asset Management LLC CT grew its holdings in shares of Clarivate Plc (NYSE:CLVT) by 7.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,120,550 shares of the company’s stock after purchasing an additional 74,871 shares during the quarter. Clarivate comprises about 1.5% of Iridian Asset Management LLC CT’s holdings, making the stock its 22nd largest position. Iridian Asset Management LLC CT’s holdings in Clarivate were worth $5,692,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CLVT. Perpetual Ltd increased its stake in Clarivate by 24.6% during the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock worth $46,699,000 after buying an additional 1,816,936 shares during the period. Cerity Partners LLC increased its position in shares of Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after acquiring an additional 91,384 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Clarivate by 112.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Clarivate by 707.5% in the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock valued at $1,119,000 after purchasing an additional 138,031 shares during the period. Finally, Geode Capital Management LLC grew its stake in Clarivate by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after purchasing an additional 571,289 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Insider Buying and Selling

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares in the company, valued at $17,983,350. This trade represents a 28.33 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 23.14% of the stock is owned by company insiders.

Clarivate Price Performance

Shares of NYSE CLVT opened at $5.02 on Friday. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60. The business has a 50-day moving average price of $5.28 and a 200 day moving average price of $5.93. 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 announced its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Equities analysts predict that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate announced that its board has approved a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

CLVT has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Barclays reduced 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. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.10.

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.