Here’s Why Baron Funds Exited its Position in Clarivate Plc (CLVT)

Baron Funds, an asset management company, released its “Baron Asset Fund” investor letter. You can download a copy of the same here. In the second quarter, the fund fell 21.09%. However, the firm believes that the fund is positioned to perform well in the current market concerns of recession and inflation. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the second quarter investor letter, Baron Funds discussed stocks like Clarivate Plc (NYSE:CLVT). Headquartered in London, the United Kingdom, Clarivate Plc (NYSE:CLVT) is an analytics and information services providing company. On August 29, 2022, Clarivate Plc (NYSE:CLVT) stock closed at $11.99 per share. One-month return of Clarivate Plc (NYSE:CLVT) was -16.50% and its shares lost 52.40% of their value over the last 52 weeks. Clarivate Plc (NYSE:CLVT) has a market capitalization of $8.075 billion.

Here is what Baron Funds specifically said about Clarivate Plc (NYSE:CLVT):

“We sold Clarivate Plc (NYSE:CLVT), an information services company focused primarily on the academic and legal end markets. We believed that the company’s well-regarded management team would be able to accelerate organic revenue growth, increase margins and cash flow, and acquire and integrate various complementary information services assets. We grew frustrated by the company’s continued inability to meet these goals.”

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Clarivate Plc (NYSE:CLVT) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Clarivate Plc (NYSE:CLVT) was held by 31 hedge fund portfolios at the end of the second quarter compared to 36 in the previous quarter.

We discussed Clarivate Plc (NYSE:CLVT) in another article and shared Baron Funds’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.