Bryce Point Capital LLC Decreases Stake in Clarivate PLC $CLVT

Bryce Point Capital LLC lessened its stake in Clarivate PLC (NYSE:CLVT) by 16.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 185,402 shares of the company’s stock after selling 37,625 shares during the quarter. Bryce Point Capital LLC’s holdings in Clarivate were worth $797,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Clarivate by 23.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock worth $12,883,000 after buying an additional 567,003 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in Clarivate by 5.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 146,947 shares of the company’s stock worth $632,000 after buying an additional 8,047 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Clarivate during the 2nd quarter worth about $236,000. Envestnet Asset Management Inc. lifted its holdings in Clarivate by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 74,391 shares of the company’s stock worth $320,000 after buying an additional 5,449 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Clarivate by 11.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 263,791 shares of the company’s stock worth $1,134,000 after buying an additional 26,650 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 4.3%

Shares of NYSE CLVT opened at $3.55 on Tuesday. The stock has a market cap of $2.34 billion, a PE ratio of -6.22 and a beta of 1.44. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate PLC has a 52-week low of $3.04 and a 52-week high of $6.70. The business has a 50-day moving average price of $3.91 and a 200 day moving average price of $4.09.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, October 29th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $623.10 million during the quarter, compared to analysts’ expectations of $570.35 million. Clarivate had a positive return on equity of 8.55% and a negative net margin of 15.83%.The business’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Equities research analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLVT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarivate in a report on Tuesday, October 14th. Jefferies Financial Group initiated coverage on Clarivate in a report on Friday, July 18th. They set a “hold” rating and a $4.50 price target for the company. Wolfe Research initiated coverage on Clarivate in a report on Wednesday, September 3rd. They set a “peer perform” rating for the company. Finally, The Goldman Sachs Group set a $4.20 price target on Clarivate in a report on Thursday. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Clarivate has a consensus rating of “Reduce” and a consensus price target of $4.68.

Insider Transactions at Clarivate

In related news, Director Andrew Miles Snyder acquired 1,460,000 shares of Clarivate stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $3.33 per share, with a total value of $4,861,800.00. Following the purchase, the director directly owned 2,247,510 shares in the company, valued at approximately $7,484,208.30. The trade was a 185.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth L. Cornick acquired 225,000 shares of Clarivate stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $3.52 per share, with a total value of $792,000.00. Following the completion of the purchase, the director owned 1,000,000 shares in the company, valued at $3,520,000. The trade was a 29.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 2,185,000 shares of company stock valued at $7,343,800. Insiders own 23.18% of the company’s stock.

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.