Clarivate Plc (NYSE:CLVT) Holdings Raised by Treasurer of the State of North Carolina

Posted by Defense World Staff on May 20th, 2023

Treasurer of the State of North Carolina boosted its stake in Clarivate Plc (NYSE:CLVT – Get Rating) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 204,901 shares of the company’s stock after buying an additional 2,610 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Clarivate were worth $1,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLVT. US Bancorp DE raised its holdings in shares of Clarivate by 5.6% during the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock valued at $240,000 after purchasing an additional 765 shares in the last quarter. HighTower Advisors LLC grew its stake in Clarivate by 19.1% in the 1st quarter. HighTower Advisors LLC now owns 98,518 shares of the company’s stock valued at $1,656,000 after buying an additional 15,785 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Clarivate in the 1st quarter worth $191,000. AlphaCrest Capital Management LLC grew its position in Clarivate by 47.7% in the 1st quarter. AlphaCrest Capital Management LLC now owns 25,536 shares of the company’s stock worth $428,000 after purchasing an additional 8,243 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Clarivate in the 1st quarter worth $204,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Clarivate Trading Down 0.5 %

Shares of CLVT stock opened at $7.31 on Friday. Clarivate Plc has a 12-month low of $7.16 and a 12-month high of $15.10. The company has a market capitalization of $4.94 billion, a P/E ratio of -1.20, a P/E/G ratio of 1.01 and a beta of 1.07. The firm has a 50-day moving average price of $8.82 and a 200 day moving average price of $9.54. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.88.

Clarivate (NYSE:CLVT – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Clarivate had a negative net margin of 151.76% and a positive return on equity of 8.39%. The company had revenue of $675.30 million during the quarter, compared to the consensus estimate of $651.42 million. Research analysts forecast that Clarivate Plc will post 0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLVT has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Clarivate from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. Morgan Stanley downgraded shares of Clarivate from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $11.00 to $12.00 in a report on Monday, February 6th. Bank of America initiated coverage on shares of Clarivate in a report on Wednesday, March 15th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Clarivate in a report on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Clarivate presently has an average 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 following segments: Academia and Government (A&G), Life Sciences and Healthcare (LS&H), and Intellectual Property (IP). The A&G segment consists of products and services to organizations that plan, fund, implement, and utilize education and research at a global, national, institutional, and individual level.