Franklin Resources Inc. Increases Stock Position in Clarivate PLC $CLVT

Franklin Resources Inc. boosted its position in Clarivate PLC (NYSE:CLVT) by 2,437.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 279,104 shares of the company’s stock after acquiring an additional 268,104 shares during the period. Franklin Resources Inc.’s holdings in Clarivate were worth $1,200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLVT. Legal & General Group Plc boosted its holdings in shares of Clarivate by 1.7% during the second quarter. Legal & General Group Plc now owns 354,989 shares of the company’s stock worth $1,526,000 after purchasing an additional 6,029 shares during the period. JPMorgan Chase & Co. lifted its holdings in Clarivate by 3.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 517,074 shares of the company’s stock worth $2,223,000 after buying an additional 19,507 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Clarivate in the 2nd quarter worth approximately $399,000. Cetera Investment Advisers grew its position in shares of Clarivate by 11.2% in the 2nd quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after buying an additional 2,617 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Clarivate by 458.3% during the second quarter. Creative Planning now owns 63,128 shares of the company’s stock valued at $271,000 after buying an additional 51,820 shares during the period. 85.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on CLVT shares. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday. Wolfe Research initiated coverage on shares of Clarivate in a research report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a research note on Monday. Finally, The Goldman Sachs Group set a $4.20 price target on shares of Clarivate in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clarivate currently has a consensus rating of “Reduce” and an average price target of $4.90.

Insider Transactions at Clarivate

In related news, Director Kenneth L. Cornick purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $3.45 per share, for a total transaction of $345,000.00. Following the purchase, the director directly owned 1,100,000 shares of the company’s stock, valued at approximately $3,795,000. This represents a 10.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Miles Snyder acquired 1,460,000 shares of Clarivate stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average cost of $3.33 per share, with a total value of $4,861,800.00. Following the transaction, the director owned 2,247,510 shares in the company, valued at $7,484,208.30. This represents a 185.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 2,285,000 shares of company stock valued at $7,688,800 in the last ninety days. 23.18% of the stock is currently owned by corporate insiders.

Clarivate Trading Down 3.5%

NYSE:CLVT opened at $3.63 on Friday. The firm has a market capitalization of $2.40 billion, a P/E ratio of -6.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.87 and a quick ratio of 0.87. Clarivate PLC has a one year low of $3.04 and a one year high of $5.86. The company’s 50-day simple moving average is $3.60 and its 200 day simple moving average is $4.01.

Clarivate Company Profile

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.