Bank of New York Mellon Corp Purchases 88,670 Shares of Clarivate PLC (NYSE:CLVT)

Bank of New York Mellon Corp increased its position in Clarivate PLC (NYSE:CLVT) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,429,086 shares of the company’s stock after purchasing an additional 88,670 shares during the period. Bank of New York Mellon Corp owned 0.35% of Clarivate worth $9,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in shares of Clarivate in the 1st quarter valued at about $30,000. Essex Financial Services Inc. acquired a new stake in Clarivate in the first quarter valued at $45,000. RPO LLC purchased a new position in shares of Clarivate during the fourth quarter worth about $55,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clarivate during the fourth quarter worth about $56,000. Finally, Paragon Capital Management Ltd purchased a new stake in Clarivate in the 1st quarter valued at approximately $62,000. 85.72% of the stock is owned by institutional investors.

Insider Buying and Selling at Clarivate

In other news, insider James Gordon Samson sold 100,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $4.53, for a total value of $453,000.00. Following the completion of the transaction, the insider owned 1,271,103 shares of the company’s stock, valued at $5,758,096.59. The trade was a 7.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.18% of the company’s stock.

Clarivate Stock Performance

Shares of Clarivate stock opened at $4.22 on Tuesday. The business’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $4.36. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.90. Clarivate PLC has a 52 week low of $3.04 and a 52 week high of $7.15. The firm has a market cap of $2.88 billion, a PE ratio of -4.35 and a beta of 1.47.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $593.70 million during the quarter, compared to the consensus estimate of $574.03 million. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. Clarivate’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.14 earnings per share. Equities analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Jefferies Financial Group initiated coverage on shares of Clarivate in a research note on Friday. They issued a “hold” rating and a $4.50 target price for the company. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.83.

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.