River Road Asset Management LLC Sells 1,080,426 Shares of Clarivate Plc (NYSE:CLVT)

River Road Asset Management LLC decreased its stake in Clarivate Plc (NYSE:CLVT) by 18.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,794,995 shares of the company’s stock after selling 1,080,426 shares during the period. River Road Asset Management LLC owned about 0.66% of Clarivate worth $34,044,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Clarivate by 5.6% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock valued at $168,000 after acquiring an additional 1,580 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Clarivate by 2.5% during the 2nd quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after buying an additional 2,064 shares in the last quarter. Ironwood Investment Counsel LLC lifted its position in Clarivate by 3.5% in the 1st quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company’s stock worth $566,000 after buying an additional 2,575 shares during the last quarter. Evermay Wealth Management LLC purchased a new stake in Clarivate in the first quarter worth approximately $31,000. Finally, Nisa Investment Advisors LLC bought a new position in Clarivate during the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

NYSE:CLVT opened at $6.45 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $6.68 and a 200 day moving average of $6.32. Clarivate Plc has a 52 week low of $4.97 and a 52 week high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. The firm had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts predict that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CLVT shares. Barclays cut their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada cut their price target on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Clarivate has a consensus rating of “Hold” and a consensus target price of $7.58.

Insider Buying and Selling at Clarivate

In other news, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now directly owns 916,583 shares in the company, valued at approximately $6,416,081. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 916,583 shares of the company’s stock, valued at $6,416,081. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock valued at $1,379,111 in the last 90 days. Insiders own 23.14% of the company’s stock.

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.