Clarkston Capital Partners LLC recently announced the acquisition of new stake in Clarivate Plc (NYSE:CLVT). The institutional investor has increased its shareholding in the Technology company by 12.01% to 57.57 million shares with purchase of 6.17 million shares. This fresh investment now brings its stake to 8.67% valued currently at $446.72 million. In addition, Impactive Capital LP raised its holdings by 2.69 million to 35.8 million shares. And Goldman Sachs & Co. LLC has lifted its position by 345.60% or 18.95 million shares – to 24.43 million shares.
With over 4.25 million Clarivate Plc (CLVT) shares trading Tuesday and a closing price of $9.02 on the day, the dollar volume was approximately $38.3 million. The shares have shown a negative half year performance of -7.30% and its price on 01/09/24 lost nearly -1.85%. Currently, there are 674.41M common shares owned by the public and among those 371.96M shares have been available to trade.
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Insiders at the company have transacted a total of 54 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 2,431,051 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 232,668 shares.
The top 3 mutual fund holders in Clarivate Plc are Clarkston Partners Fund, Fidelity International Equity Inv, and Janus Henderson Triton Fund. Clarkston Partners Fund owns 15.6 million shares of the company’s stock, all valued at over $121.06 million. The company bought an additional 1.29 million shares recently to bring their total holdings to about 2.35% of the shares outstanding. Fidelity International Equity Inv bought 0.14 million shares to see its total holdings expand to 9.66 million shares valued at over $74.97 million and representing 1.46% of the shares outstanding. Janus Henderson Triton Fund bought 0.47 million shares to bring its total holdings to over 7.94 million shares at a value of $61.59 million. Janus Henderson Triton Fund now owns shares totaling to 1.20% of the shares outstanding.
Shares of Clarivate Plc (NYSE: CLVT) opened at $9.07, down -$0.12 from a prior closing price of $9.19. However, the script later moved the day high at 9.27, down -1.85%. The company’s stock has a 5-day price change of -0.66% and 41.38% over the past three months. CLVT shares are trading -2.59% year to date (YTD), with the 12-month market performance up to 0.56% higher. It has a 12-month low price of $6.07 and touched a high of $11.99 over the same period. CLVT has an average intraday trading volume of 5.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.25%, 15.58%, and 12.55% respectively.
Institutional ownership of Clarivate Plc (NYSE: CLVT) shares accounts for 72.19% of the company’s 674.41M shares outstanding. Mutual fund holders own 39.95%, while other institutional holders and individual stakeholders account for 52.38% and 19.83% respectively.
It has a market capitalization of $5.99B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 40.32, while the earnings-per-share (ttm) stands at $0.22. The company has a PEG of 7.07 and a Quick Ratio of 0.94 with the debt-to-equity ratio at 0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.73% over the week and 3.22% over the month.
Analysts forecast that Clarivate Plc (CLVT) will achieve an EPS of $0.21 for the current quarter, $0.18 for the next quarter and $0.85 for 2024. The lowest estimate earnings-per-share for the quarter is $0.19 while analysts give the company a high EPS estimate of $0.24. Comparatively, EPS for the current quarter was $0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.37%, and 5.79% over the next financial year. EPS should shrink at an annualized rate of 5.70% over the next five years, compared to 47.79% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Clarivate Plc (CLVT) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 10 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the CLVT, a number of firms have released research notes about the stock. Wells Fargo stated their Underweight rating for the stock in a research note on December 15, 2023, with the firm’s price target at $8.
