Sumitomo Mitsui DS Asset Management Company Ltd Cuts Position in Clarivate PLC $CLVT

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in Clarivate PLC (NYSE:CLVT) by 54.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,142 shares of the company’s stock after selling 22,111 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Clarivate were worth $78,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HG Vora Capital Management LLC purchased a new position in Clarivate during the 1st quarter worth $47,160,000. AustralianSuper Pty Ltd purchased a new position in Clarivate during the 1st quarter worth $39,593,000. Clarkston Capital Partners LLC grew its stake in Clarivate by 5.4% during the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock worth $292,895,000 after buying an additional 3,794,083 shares during the last quarter. Timucuan Asset Management Inc. FL purchased a new position in Clarivate during the 1st quarter worth $8,859,000. Finally, Invenomic Capital Management LP grew its stake in Clarivate by 28.8% during the 1st quarter. Invenomic Capital Management LP now owns 8,480,296 shares of the company’s stock worth $33,328,000 after buying an additional 1,894,589 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider James Gordon Samson sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total value of $453,000.00. Following the completion of the sale, the insider directly owned 1,271,103 shares in the company, valued at $5,758,096.59. This represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 23.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

CLVT has been the topic of several research analyst reports. Wolfe Research initiated coverage on Clarivate in a research note on Wednesday, September 3rd. They set a “peer perform” rating on the stock. Wall Street Zen cut Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Jefferies Financial Group initiated coverage on Clarivate in a research report on Friday, July 18th. They set a “hold” rating and a $4.50 price target for the company. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.83.

Clarivate Price Performance

Shares of Clarivate stock opened at $4.07 on Tuesday. Clarivate PLC has a twelve month low of $3.04 and a twelve month high of $7.15. The business has a 50-day moving average price of $4.22 and a 200 day moving average price of $4.12. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.74 billion, a PE ratio of -6.56 and a beta of 1.40.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Clarivate had a positive return on equity of 8.65% and a negative net margin of 17.33%.The company had revenue of $621.40 million during the quarter, compared to analyst estimates of $587.17 million. During the same period in the previous year, the business earned $0.20 EPS. Clarivate’s quarterly revenue was down 4.4% on a year-over-year basis. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Sell-side analysts predict that Clarivate PLC will post 0.63 earnings per share for the current fiscal year.

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.