Clarkston Capital Partners LLC has recently announced that it has increased stake in Clarivate Plc (NYSE:CLVT) by 12.01%. After grabbing 57.57 million shares, the institutional investor is now in possession of 6.17 million shares of the Technology Company. The new investment brought the stake of investor firm to 8.67% having worth around $533.07 million. Moreover, Impactive Capital LP increased its share by 2.69 million to have a control over 35.8 million shares. And Goldman Sachs & Co. LLC raised its holdings to 18.95 million shares by acquiring 24.43 million shares or 3.68% of the stake.
Clarivate Plc (CLVT) concluded trading on Wednesday at a closing price of $8.88, with 3.62 million shares of worth about $32.12 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -6.72% during that period and On Wednesday, January 24 the price saw a loss of about -2.52%. Currently the company’s common shares owned by public are about 674.41M shares, out of which, 371.96M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 54 times over the past 12 months. They bought 2,431,051 shares in 26 of the transactions. In 28 selling transactions, insiders dumped 232,668 shares.
Clarkston Partners Fund, Fidelity International Equity Inv, and Janus Henderson Triton Fund are the top 3 mutual funds which are holding stakes in Clarivate Plc Clarkston Partners Fund is currently holding 15.6 million shares of worth totaling $144.46 million. The company recently came buying 0.0 shares which brought its stake up to 2.35% of the company’s outstanding shares. Fidelity International Equity Inv bought 0.14 million shares, after which its hold over company’s outstanding shares expand to 1.46%, leaving 9.66 million shares with the mutual fund that have a worth of about $89.47 million. Janus Henderson Triton Fund, after buying 7.94 million shares, have now control over 1.20% of the stake in the company. It holds 0.47 million shares of worth $73.49 million.
However, the stock later moved at a day high price of 9.24, or with a loss of -2.52%. Stock saw a price change of 0.23% in past 5 days and over the past one month there was a price change of -3.79%. Year-to-date (YTD), CLVT shares are showing a performance of -4.10% which decreased to -18.68% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.07 but also hit the highest price of $11.99 during that period. The average intraday trading volume for Clarivate Plc shares is 5.72 million. The stock is currently trading -2.26% below its 20-day simple moving average (SMA20), while that difference is up 7.04% for SMA50 and it goes to 10.91% higher than SMA200.
Clarkston Capital Partners LLC acquired 57.57 million shares of Clarivate Plc having value of about $533.07 million. Data submitted at the U.S SEC by Clarkston Capital Partners LLC revealed that the firm now holds 6.17 million shares in the company valued at close to $54813522.72, or have control over 12.01% stake in the company. Clarivate Plc (NYSE: CLVT) currently have 674.41M outstanding shares and institutions hold larger chunk of about 71.92% of that. Holding of mutual funds in the company is about 39.95% while other institutional holders and individual stake holders have control over 51.26% and 20.68% of the stake respectively.
The stock has a current market capitalization of $5.90B and its 3Y-monthly beta is at 1.32. PE ratio of stock for trailing 12 months is 39.70, while it has posted earnings per share of $0.22 in the same period. Its PEG reads 6.96 and has Quick Ratio of 0.94 while making debt-to-equity ratio of 0.74. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CLVT, volatility over the week remained 2.98% while standing at 2.86% over the month.
Analysts are in expectations that Clarivate Plc (CLVT) stock would likely to be making an EPS of $0.21 in the current quarter, while forecast for next quarter EPS is $0.18 and it is $0.85 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.19 which is $0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.22 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.52% while it is estimated to increase by 5.29% in next year. EPS is likely to shrink at an annualized rate of 5.70% for next 5-years, compared to annual growth of 47.79% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 15, 2023 offering an Underweight rating for the stock and assigned a target price of $8 to it.
