Amalgamated Bank Sells 2,023 Shares of Clarivate Plc (NYSE:CLVT)

Amalgamated Bank reduced its stake in Clarivate Plc (NYSE:CLVT) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,717 shares of the company’s stock after selling 2,023 shares during the period. Amalgamated Bank’s holdings in Clarivate were worth $124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Clarivate in the second quarter valued at about $1,410,000. Glenview Capital Management LLC boosted its holdings in shares of Clarivate by 22.2% in the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock worth $228,269,000 after acquiring an additional 4,472,302 shares in the last quarter. Capital World Investors acquired a new position in shares of Clarivate in the 1st quarter worth approximately $30,104,000. Confluence Investment Management LLC bought a new stake in Clarivate during the 1st quarter worth approximately $18,389,000. Finally, Soviero Asset Management LP acquired a new stake in Clarivate during the 4th quarter valued at $5,556,000. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Stock Down 7.2 %

Shares of NYSE CLVT opened at $6.59 on Wednesday. Clarivate Plc has a 1 year low of $4.97 and a 1 year high of $9.60. The firm’s 50-day moving average is $6.53 and its 200-day moving average is $6.43. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $4.40 billion, a PE ratio of -3.97 and a beta of 1.17.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $650.30 million for the quarter, compared to analysts’ expectations of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Equities analysts expect that Clarivate Plc will post 0.64 EPS for the current year.

Analysts Set New Price Targets

CLVT has been the topic of several research analyst reports. Barclays decreased their target price on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price objective on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.71.

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the transaction, the insider now owns 976,583 shares in the company, valued at $6,836,081. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now owns 976,583 shares of the company’s stock, valued at approximately $6,836,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by corporate insiders.

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.