American Century Companies Inc. Acquires 1,633,837 Shares of Clarivate PLC $CLVT

American Century Companies Inc. grew its holdings in shares of Clarivate PLC (NYSE:CLVT) by 24.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,267,491 shares of the company’s stock after buying an additional 1,633,837 shares during the period. American Century Companies Inc. owned 1.23% of Clarivate worth $35,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its holdings in Clarivate by 688.8% in the second quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after acquiring an additional 7,157 shares in the last quarter. Wedmont Private Capital bought a new position in Clarivate in the 2nd quarter worth $53,000. R Squared Ltd purchased a new stake in shares of Clarivate in the 2nd quarter worth about $56,000. Punch & Associates Investment Management Inc. boosted its stake in shares of Clarivate by 52.9% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 16,540 shares of the company’s stock valued at $65,000 after purchasing an additional 5,720 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Clarivate during the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Insider Transactions at Clarivate

In other news, Director Kenneth L. Cornick bought 500,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $3.38 per share, for a total transaction of $1,690,000.00. Following the completion of the purchase, the director owned 775,000 shares in the company, valued at approximately $2,619,500. This represents a 181.82% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Miles Snyder purchased 1,460,000 shares of the business’s stock in a transaction dated 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 acquisition, the director owned 2,247,510 shares of the company’s stock, valued at approximately $7,484,208.30. The trade was a 185.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 2,285,000 shares of company stock worth $7,688,800. 23.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Clarivate Trading Up 0.3%

NYSE CLVT opened at $3.76 on Friday. Clarivate PLC has a 12 month low of $3.04 and a 12 month high of $5.88. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average price is $3.61 and its 200-day moving average price is $4.03. The stock has a market cap of $2.49 billion, a P/E ratio of -6.60 and a beta of 1.43.

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.