Harbor Spring Capital LLC Purchases Shares of 1,030,000 Clarivate Plc (NYSE:CLVT)

Harbor Spring Capital LLC acquired a new stake in shares of Clarivate Plc (NYSE:CLVT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,030,000 shares of the company’s stock, valued at approximately $9,816,000. Clarivate comprises approximately 5.5% of Harbor Spring Capital LLC’s holdings, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Clarivate by 2.6% during the second quarter. Northern Trust Corp now owns 3,211,779 shares of the company’s stock worth $30,608,000 after buying an additional 80,728 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in shares of Clarivate by 109.6% in the 2nd quarter. ExodusPoint Capital Management LP now owns 429,256 shares of the company’s stock worth $4,091,000 after acquiring an additional 224,477 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Clarivate by 366.6% in the second quarter. Osaic Holdings Inc. now owns 72,353 shares of the company’s stock valued at $690,000 after purchasing an additional 56,848 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Clarivate by 84.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 5,963,990 shares of the company’s stock valued at $56,837,000 after purchasing an additional 2,732,507 shares in the last quarter. Finally, Boston Partners purchased a new position in Clarivate during the second quarter worth about $2,484,000. 86.52% of the stock is owned by institutional investors.

Clarivate Price Performance

Clarivate stock remained flat at $7.30 during midday trading on Tuesday. The company had a trading volume of 757,153 shares, compared to its average volume of 6,017,242. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.15 and a beta of 1.17. Clarivate Plc has a fifty-two week low of $6.07 and a fifty-two week high of $11.99. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.94 and a quick ratio of 0.94. The business has a 50 day moving average of $6.84 and a 200-day moving average of $7.75.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $647.20 million for the quarter, compared to analyst estimates of $631.41 million. Clarivate had a net margin of 9.77% and a return on equity of 9.47%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Equities research analysts expect that Clarivate Plc will post 0.6 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CLVT shares. Morgan Stanley dropped their target price on shares of Clarivate from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Oppenheimer dropped their price target on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, October 5th. Bank of America lowered Clarivate from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $10.00 to $6.00 in a research report on Monday, August 7th. Citigroup reduced their price target on shares of Clarivate from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company lowered shares of Clarivate from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.00 to $8.00 in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.22.

Clarivate Profile

Clarivate Plc, an information, analytics, and workflow company, provides structured information and analytics for discovery, development, protection, commercialization, and measurement of scientific research, innovations, and brands. The company operates through three segments: Academia and Government, Life Sciences and Healthcare, and Intellectual Property.