Arizona State Retirement System boosted its stake in shares of Clarivate Plc (NYSE:CLVT – Free Report) by 15.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 101,399 shares of the company’s stock after buying an additional 13,196 shares during the period. Arizona State Retirement System’s holdings in Clarivate were worth $966,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE raised its position in Clarivate by 5.6% in the first quarter. US Bancorp DE now owns 14,343 shares of the company’s stock valued at $240,000 after purchasing an additional 765 shares during the period. HighTower Advisors LLC raised its position in Clarivate by 19.1% in the first quarter. HighTower Advisors LLC now owns 98,518 shares of the company’s stock valued at $1,656,000 after purchasing an additional 15,785 shares during the period. Private Advisor Group LLC purchased a new stake in Clarivate in the first quarter valued at $191,000. AlphaCrest Capital Management LLC raised its position in Clarivate by 47.7% in the first quarter. AlphaCrest Capital Management LLC now owns 25,536 shares of the company’s stock valued at $428,000 after purchasing an additional 8,243 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Clarivate in the first quarter valued at $204,000. Institutional investors and hedge funds own 86.52% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on CLVT shares. Citigroup reduced their target price on Clarivate from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 26th. Bank of America downgraded Clarivate from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $10.00 to $6.00 in a research report on Monday, August 7th. Oppenheimer cut their price objective on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, October 5th. Royal Bank of Canada downgraded Clarivate from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $9.00 to $8.00 in a report on Friday, August 25th. Finally, Wells Fargo & Company downgraded Clarivate from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $15.00 to $8.00 in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $8.22.
Clarivate Price Performance
Shares of NYSE CLVT opened at $6.38 on Wednesday. The stock’s 50-day moving average is $6.93 and its two-hundred day moving average is $7.92. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.95 and a quick ratio of 0.95. Clarivate Plc has a 1-year low of $6.07 and a 1-year high of $11.99. The company has a market cap of $4.31 billion, a price-to-earnings ratio of -1.00, a price-to-earnings-growth ratio of 1.08 and a beta of 1.16.
Clarivate (NYSE:CLVT – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Clarivate had a positive return on equity of 9.65% and a negative net margin of 159.90%. The company had revenue of $668.80 million for the quarter, compared to the consensus estimate of $673.97 million. During the same quarter in the prior year, the business earned $0.19 EPS. Clarivate’s revenue was down 2.6% on a year-over-year basis. Analysts forecast that Clarivate Plc will post 0.6 EPS for the current fiscal year.
Clarivate Company Profile
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.
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