Robeco Institutional Asset Management B.V. Purchases 26,089 Shares of Clarivate Plc (NYSE:CLVT)

Posted by on Aug 5th, 2023

Robeco Institutional Asset Management B.V. grew its stake in Clarivate Plc (NYSE:CLVT – Free Report) by 11.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260,112 shares of the company’s stock after purchasing an additional 26,089 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Clarivate were worth $2,442,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in Clarivate in the 1st quarter worth $38,000. CWM LLC grew its position in shares of Clarivate by 31.0% in the 4th quarter. CWM LLC now owns 4,853 shares of the company’s stock worth $40,000 after buying an additional 1,148 shares during the period. Fifth Third Bancorp grew its position in shares of Clarivate by 637.1% in the 1st quarter. Fifth Third Bancorp now owns 4,946 shares of the company’s stock worth $46,000 after buying an additional 4,275 shares during the period. Penserra Capital Management LLC grew its position in shares of Clarivate by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after buying an additional 1,774 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in shares of Clarivate in the 4th quarter worth about $87,000. 84.80% of the stock is currently owned by institutional investors.

Clarivate Stock Performance

Shares of CLVT stock opened at $6.84 on Friday. Clarivate Plc has a one year low of $6.60 and a one year high of $14.99. The company’s 50-day moving average is $9.00 and its 200 day moving average is $9.38. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of -1.12, a price-to-earnings-growth ratio of 1.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.90 and a current ratio of 0.90.

Clarivate (NYSE:CLVT – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The firm had revenue of $668.80 million for the quarter, compared to the consensus estimate of $673.97 million. Clarivate had a negative net margin of 151.76% and a positive return on equity of 8.39%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 EPS. Sell-side analysts expect that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CLVT shares. Wells Fargo & Company downgraded shares of Clarivate from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $15.00 to $8.00 in a research report on Friday. The Goldman Sachs Group reduced their target price on shares of Clarivate from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Friday. Barclays reduced their target price on shares of Clarivate from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday. Oppenheimer reduced their target price on shares of Clarivate from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Morgan Stanley cut their price objective on shares of Clarivate from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Clarivate presently has an average rating of “Hold” and an average target price of $9.08.

Clarivate Profile

(Free Report)

Clarivate Plc, an information, analytics, and workflow company, provides structured information and analytics for discovery, development, protection, commercialization, and measurement of scientific research, innovations, and brands. The company operates through three segments: Academia and Government, Life Sciences and Healthcare, and Intellectual Property.

See Also

Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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