Iridian Asset Management LLC CT Sells 23,946 Shares of Clarivate Plc (NYSE:CLVT)

Iridian Asset Management LLC CT decreased its position in shares of Clarivate Plc (NYSE:CLVT) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,045,679 shares of the company’s stock after selling 23,946 shares during the quarter. Clarivate makes up approximately 1.6% of Iridian Asset Management LLC CT’s holdings, making the stock its 19th largest holding. Iridian Asset Management LLC CT’s holdings in Clarivate were worth $7,424,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CLVT. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth approximately $31,000. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate during the 2nd quarter valued at $26,000. J.W. Cole Advisors Inc. bought a new stake in shares of Clarivate during the 1st quarter valued at $76,000. Truist Financial Corp acquired a new position in shares of Clarivate in the 2nd quarter valued at $63,000. Finally, Forum Financial Management LP bought a new position in shares of Clarivate in the 2nd quarter worth $75,000. 85.72% of the stock is currently owned by institutional investors.

Clarivate Stock Performance

CLVT stock opened at $6.53 on Thursday. Clarivate Plc has a 1-year low of $4.97 and a 1-year high of $9.60. The business’s 50-day moving average price is $6.68 and its two-hundred day moving average price is $6.33. The firm has a market cap of $4.73 billion, a PE ratio of -3.42 and a beta of 1.17. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83.

Clarivate (NYSE:CLVT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, research analysts forecast that Clarivate Plc will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Clarivate

In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Saurabh Saha sold 17,646 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the sale, the director now owns 23,741 shares of the company’s stock, valued at $160,251.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew Miles Snyder bought 28,938 shares of Clarivate stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $5.49 per share, with a total value of $158,869.62. Following the acquisition, the director now directly owns 288,334 shares of the company’s stock, valued at $1,582,953.66. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 197,646 shares of company stock valued at $1,379,111 in the last 90 days. 23.14% of the stock is currently owned by company insiders.

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.