Clarkston Capital Partners LLC Sells 4,497,483 Shares of Clarivate PLC $CLVT

Clarkston Capital Partners LLC lowered its stake in Clarivate PLC (NYSE:CLVT) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,030,431 shares of the company’s stock after selling 4,497,483 shares during the period. Clarivate makes up about 6.4% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Clarkston Capital Partners LLC owned approximately 10.42% of Clarivate worth $301,131,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Clarivate by 23.3% during the second quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock valued at $12,883,000 after purchasing an additional 567,003 shares during the last quarter. AGF Management Ltd. raised its holdings in Clarivate by 20.4% during the 2nd quarter. AGF Management Ltd. now owns 731,048 shares of the company’s stock worth $3,144,000 after buying an additional 123,819 shares during the period. Edmond DE Rothschild Holding S.A. lifted its stake in Clarivate by 19.5% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after buying an additional 1,514,000 shares in the last quarter. Wedmont Private Capital purchased a new stake in Clarivate during the second quarter valued at about $53,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Clarivate by 310.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock worth $1,274,000 after buying an additional 223,995 shares during the period. 85.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CLVT shares. Wolfe Research initiated coverage on shares of Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating on the stock. The Goldman Sachs Group set a $4.20 price objective on shares of Clarivate in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clarivate in a research note on Monday, November 17th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $4.90.

Insider Buying and Selling at Clarivate

In other news, Director Andrew Miles Snyder bought 1,460,000 shares of the stock in a transaction on Friday, October 31st. The shares were purchased at an average price of $3.33 per share, for a total transaction of $4,861,800.00. Following the completion of the purchase, the director directly owned 2,247,510 shares of the company’s stock, valued at $7,484,208.30. This trade represents a 185.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth L. Cornick bought 500,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $3.38 per share, for a total transaction of $1,690,000.00. Following the completion of the transaction, the director owned 775,000 shares in the company, valued at approximately $2,619,500. The trade was a 181.82% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 2,285,000 shares of company stock worth $7,688,800. 23.18% of the stock is currently owned by corporate insiders.

Clarivate Stock Performance

CLVT stock opened at $3.75 on Friday. The stock has a market cap of $2.48 billion, a P/E ratio of -6.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a 50 day simple moving average of $3.62 and a 200 day simple moving average of $4.04. Clarivate PLC has a 52 week low of $3.04 and a 52 week high of $5.88.

Clarivate 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.