Virtu Financial LLC Purchases Shares of 33,194 Clarivate Plc (NYSE:CLVT)

Virtu Financial LLC acquired a new stake in shares of Clarivate Plc (NYSE:CLVT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,194 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock valued at $168,000 after purchasing an additional 1,580 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Clarivate by 2.5% during the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock worth $479,000 after buying an additional 2,064 shares in the last quarter. KBC Group NV increased its holdings in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Clarivate by 2.9% in the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after acquiring an additional 2,696 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its holdings in shares of Clarivate by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after acquiring an additional 2,865 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CLVT. Barclays cut their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.10.

Insider Activity at Clarivate

In other news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. This represents a 6.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the completion of the transaction, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 23.14% of the stock is currently owned by company insiders.

Clarivate Trading Down 0.5 %

CLVT stock opened at $5.46 on Wednesday. The business has a fifty day moving average of $5.79 and a 200-day moving average of $6.07. The company has a market cap of $3.88 billion, a P/E ratio of -2.74 and a beta of 1.12. Clarivate Plc has a twelve month low of $4.25 and a twelve month high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. The firm had revenue of $622.20 million during the quarter, compared to analysts’ expectations of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.18 EPS. As a group, equities research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate announced that its board has authorized a stock buyback program on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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.