Raymond James & Associates Cuts Stake in Clarivate Plc (NYSE:CLVT)

Raymond James & Associates decreased its holdings in Clarivate Plc (NYSE:CLVTFree Report) by 9.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,789,528 shares of the company’s stock after selling 637,992 shares during the period. Raymond James & Associates’ holdings in Clarivate were worth $53,611,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CLVT. Banque Cantonale Vaudoise purchased a new position in Clarivate in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its holdings in Clarivate by 201.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,682 shares of the company’s stock valued at $45,000 after buying an additional 3,129 shares during the period. Macquarie Group Ltd. raised its holdings in Clarivate by 40.5% in the first quarter. Macquarie Group Ltd. now owns 6,077 shares of the company’s stock valued at $57,000 after buying an additional 1,753 shares during the period. Forum Financial Management LP purchased a new position in Clarivate in the third quarter valued at approximately $81,000. Finally, Penserra Capital Management LLC raised its holdings in Clarivate by 50.0% in the first quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock valued at $89,000 after buying an additional 1,774 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CLVT shares. Morgan Stanley cut their price target on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 28th. Oppenheimer lowered their price objective on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada lowered their price objective on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $8.00 price objective on shares of Clarivate in a research report on Friday, December 15th. Finally, Barclays lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Clarivate has a consensus rating of “Hold” and an average price target of $8.00.

Read Our Latest Stock Analysis on CLVT

Clarivate Stock Up 1.6 %

CLVT stock opened at $7.46 on Thursday. Clarivate Plc has a twelve month low of $6.07 and a twelve month high of $10.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $4.97 billion, a P/E ratio of -5.04, a PEG ratio of 1.48 and a beta of 1.25. The firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $7.82.

Clarivate (NYSE:CLVTGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million during the quarter, compared to the consensus estimate of $687.80 million. During the same quarter last year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Clarivate Plc will post 0.62 earnings per share for the current fiscal year.

Clarivate Profile

(Free Report)

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.

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Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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