Franklin Resources Inc. Purchases 268,104 Shares of Clarivate PLC $CLVT

Franklin Resources Inc. boosted its position in Clarivate PLC (NYSE:CLVT) by 2,437.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,104 shares of the company’s stock after purchasing an additional 268,104 shares during the quarter. Franklin Resources Inc.’s holdings in Clarivate were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. HG Vora Capital Management LLC purchased a new stake in shares of Clarivate in the first quarter worth $47,160,000. Clarkston Capital Partners LLC increased its stake in Clarivate by 5.4% in the 1st quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock worth $292,895,000 after acquiring an additional 3,794,083 shares during the last quarter. Timucuan Asset Management Inc. FL purchased a new stake in shares of Clarivate in the 1st quarter valued at about $8,859,000. Invenomic Capital Management LP boosted its position in shares of Clarivate by 28.8% during the 1st quarter. Invenomic Capital Management LP now owns 8,480,296 shares of the company’s stock valued at $33,328,000 after acquiring an additional 1,894,589 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Clarivate by 31.1% during the 1st quarter. American Century Companies Inc. now owns 6,633,654 shares of the company’s stock valued at $26,070,000 after acquiring an additional 1,572,378 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Trading Down 3.5%

CLVT stock opened at $3.63 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of -6.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Clarivate PLC has a one year low of $3.04 and a one year high of $5.86. The company’s 50 day moving average price is $3.60 and its two-hundred day moving average price is $4.01.

Insiders Place Their Bets

In other Clarivate news, Director Kenneth L. Cornick purchased 100,000 shares of the business’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $3.45 per share, for a total transaction of $345,000.00. Following the completion of the transaction, the director directly owned 1,100,000 shares in the company, valued at approximately $3,795,000. This represents a 10.00% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Andrew Miles Snyder acquired 1,460,000 shares of Clarivate stock in a transaction dated Friday, October 31st. The shares were bought at an average cost 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 approximately $7,484,208.30. The trade was a 185.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 2,285,000 shares of company stock valued at $7,688,800 over the last three months. Insiders own 23.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CLVT shares. Wall Street Zen raised shares of Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a report on Monday. Wolfe Research started coverage on shares of Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group set a $4.20 target price on shares of Clarivate in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $4.90.

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.