Invenomic Capital Management LP Sells 835,912 Shares of Clarivate Plc (NYSE:CLVT)

Invenomic Capital Management LP decreased its position in Clarivate Plc (NYSE:CLVT) by 12.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,918,561 shares of the company’s stock after selling 835,912 shares during the quarter. Clarivate makes up approximately 2.3% of Invenomic Capital Management LP’s portfolio, making the stock its 7th largest holding. Invenomic Capital Management LP owned 0.83% of Clarivate worth $42,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Clarivate during the second quarter worth about $1,410,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Clarivate during the second quarter valued at about $2,251,000. Raymond James & Associates grew its position in Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after purchasing an additional 1,157,976 shares in the last quarter. Baupost Group LLC MA lifted its position in shares of Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after buying an additional 8,331,233 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Clarivate by 37.5% during the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock valued at $35,558,000 after buying an additional 1,704,761 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CLVT. Royal Bank of Canada lowered their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Barclays lowered 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $7.25.

Clarivate Trading Down 0.2 %

NYSE CLVT opened at $5.81 on Tuesday. 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 Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The firm’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $6.10.

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

Insider Buying and Selling

In other news, insider Bar Veinstein sold 60,000 shares of Clarivate 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 transaction, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. This trade represents a 6.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis acquired 765,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the transaction, the director now owns 3,465,000 shares in the company, valued at $17,983,350. The trade was a 28.33 % increase in their position. The disclosure for this purchase can be found here. 23.14% of the stock is owned by insiders.

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.