Bank of New York Mellon Corp Has $52.26 Million Stock Holdings in Clarivate Plc (NYSE:CLVT)

Posted by on Mar 11th, 2023

Bank of New York Mellon Corp trimmed its stake in Clarivate Plc (NYSE:CLVT – Get Rating) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,565,310 shares of the company’s stock after selling 565,402 shares during the quarter. Bank of New York Mellon Corp owned about 0.83% of Clarivate worth $52,258,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CLVT. Clarkston Capital Partners LLC grew its holdings in shares of Clarivate by 67.2% during the second quarter. Clarkston Capital Partners LLC now owns 18,155,475 shares of the company’s stock valued at $251,635,000 after buying an additional 7,295,534 shares during the last quarter. Brahman Capital Corp. bought a new position in shares of Clarivate during the second quarter valued at about $54,443,000. Glenview Capital Management LLC bought a new position in shares of Clarivate during the second quarter valued at about $33,137,000. UBS Group AG lifted its position in shares of Clarivate by 352.4% during the second quarter. UBS Group AG now owns 2,376,297 shares of the company’s stock valued at $32,935,000 after purchasing an additional 1,851,053 shares in the last quarter. Finally, Sunriver Management LLC bought a new position in shares of Clarivate during the first quarter valued at about $28,866,000. 87.34% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Performance

NYSE CLVT opened at $10.00 on Friday. The company’s 50 day moving average is $10.49 and its 200-day moving average is $10.13. Clarivate Plc has a 12-month low of $7.85 and a 12-month high of $17.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm has a market cap of $6.74 billion, a P/E ratio of -1.61 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Clarivate from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, March 2nd. Morgan Stanley lowered shares of Clarivate from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $11.00 to $12.00 in a research report on Monday, February 6th. Wells Fargo & Company lifted their price objective on shares of Clarivate from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, March 2nd. Finally, TheStreet lowered shares of Clarivate from a “c-” rating to a “d” rating in a research report on Monday, November 21st. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.88.

Clarivate Company Profile

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Clarivate Plc engages in the provision of global information, analytics and workflow solutions. It operates through the Science and Intellectual Property segments. The Science segment is composed of the academia and government, and life science and healthcare product lines. The Intellectual Property segment includes the patent, trademark, domain, and IP management product lines.

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Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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