State of Michigan Retirement System Takes Position in Clarivate Plc (NYSE:CLVT)

State of Michigan Retirement System acquired a new position in Clarivate Plc (NYSE:CLVTGet Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,982 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors also recently bought and sold shares of CLVT. Massachusetts Financial Services Co. MA increased its holdings in shares of Clarivate by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 28,801,178 shares of the company’s stock valued at $482,708,000 after acquiring an additional 880,590 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Clarivate by 6.2% in the first quarter. BlackRock Inc. now owns 21,453,033 shares of the company’s stock worth $359,553,000 after buying an additional 1,252,886 shares during the last quarter. State Street Corp boosted its holdings in shares of Clarivate by 10.0% during the 1st quarter. State Street Corp now owns 11,090,387 shares of the company’s stock worth $185,875,000 after buying an additional 1,011,303 shares during the period. Clarkston Capital Partners LLC acquired a new position in Clarivate in the 1st quarter valued at $182,013,000. Finally, Farallon Capital Management LLC bought a new position in Clarivate in the 1st quarter worth $146,037,000. 83.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Andrew Miles Snyder acquired 208,333 shares of Clarivate stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $11.61 per share, with a total value of $2,418,746.13. Following the acquisition, the director now owns 208,333 shares of the company’s stock, valued at $2,418,746.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.88% of the company’s stock.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $10.10 on Tuesday. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of -1.48 and a beta of 0.98. Clarivate Plc has a one year low of $8.00 and a one year high of $25.63. The business has a fifty day simple moving average of $10.16 and a 200 day simple moving average of $12.58. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.56.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Clarivate from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. The Goldman Sachs Group reduced their price objective on Clarivate from $17.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on shares of Clarivate from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Finally, Wells Fargo & Company reduced their price target on shares of Clarivate from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, November 9th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Clarivate has an average rating of “Moderate Buy” and a consensus target price of $14.25.

Clarivate Profile

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Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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