Russell Investments Group Ltd. Sells 246,147 Shares of Clarivate Plc (NYSE:CLVT)

Russell Investments Group Ltd. lessened its stake in Clarivate Plc (NYSE:CLVT) by 13.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,530,626 shares of the company’s stock after selling 246,147 shares during the period. Russell Investments Group Ltd.’s holdings in Clarivate were worth $14,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise purchased a new position in shares of Clarivate during the 3rd quarter valued at $33,000. Forum Financial Management LP bought a new stake in Clarivate in the 3rd quarter valued at $81,000. Wedmont Private Capital purchased a new position in shares of Clarivate in the 4th quarter worth $99,000. Simplicity Solutions LLC purchased a new position in shares of Clarivate in the 3rd quarter worth $108,000. Finally, Headlands Technologies LLC purchased a new position in shares of Clarivate in the 3rd quarter worth $110,000. Institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CLVT shares. Royal Bank of Canada dropped 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 note on Wednesday, February 28th. Morgan Stanley dropped their price objective on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Barclays dropped their price objective on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Finally, Oppenheimer dropped their price objective on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

Clarivate Price Performance

CLVT stock opened at $6.85 on Friday. Clarivate Plc has a 12 month low of $6.07 and a 12 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 50-day moving average price of $7.25 and a 200 day moving average price of $7.86. The stock has a market cap of $4.58 billion, a PE ratio of -4.63, a P/E/G ratio of 1.42 and a beta of 1.24.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting 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 company had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Clarivate Plc will post 0.62 earnings per share for the current year.

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.