Arizona State Retirement System Sells 7,157 Shares of Clarivate Plc (NYSE:CLVT)

Arizona State Retirement System trimmed its holdings in Clarivate Plc (NYSE:CLVT) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,067 shares of the company’s stock after selling 7,157 shares during the period. Arizona State Retirement System’s holdings in Clarivate were worth $788,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CLVT. Banque Cantonale Vaudoise acquired a new stake in shares of Clarivate in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its position in shares of 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 last quarter. Macquarie Group Ltd. lifted its position in shares of 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 last quarter. Forum Financial Management LP acquired a new stake in shares of Clarivate in the third quarter valued at approximately $81,000. Finally, Penserra Capital Management LLC lifted its holdings in Clarivate by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after purchasing an additional 1,774 shares during the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Price Performance

Clarivate stock opened at $6.91 on Thursday. The stock’s fifty day moving average price is $7.71 and its two-hundred day moving average price is $7.84. Clarivate Plc has a one year low of $6.07 and a one year high of $10.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $4.62 billion, a PE ratio of -4.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The firm had revenue of $683.70 million for the quarter, compared to analyst estimates of $687.80 million. During the same quarter last year, the company earned $0.20 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts expect that Clarivate Plc will post 0.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CLVT shares. Barclays dropped their price target on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Oppenheimer dropped their price target on Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Morgan Stanley dropped their price target on Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, February 28th. Finally, Royal Bank of Canada dropped their price target on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

About Clarivate

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.