Rhumbline Advisers Cuts Holdings in Clarivate PLC (NYSE:CLVT)

Rhumbline Advisers trimmed its holdings in shares of Clarivate PLC (NYSE:CLVT) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 360,418 shares of the company’s stock after selling 28,256 shares during the period. Rhumbline Advisers owned approximately 0.05% of Clarivate worth $1,416,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CLVT. Price T Rowe Associates Inc. MD boosted its stake in Clarivate by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company’s stock valued at $141,107,000 after purchasing an additional 9,691,104 shares during the last quarter. Norges Bank purchased a new stake in Clarivate during the 4th quarter valued at $27,764,000. Clarkston Capital Partners LLC boosted its stake in Clarivate by 8.1% during the 4th quarter. Clarkston Capital Partners LLC now owns 70,733,831 shares of the company’s stock valued at $359,328,000 after purchasing an additional 5,319,535 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Clarivate during the 4th quarter valued at $19,172,000. Finally, Atairos Partners GP Inc. purchased a new stake in Clarivate during the 4th quarter valued at $17,602,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research note on Thursday, February 20th. Wall Street Zen raised Clarivate from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

Clarivate Price Performance

NYSE CLVT opened at $4.26 on Thursday. The business’s fifty day moving average price is $4.05 and its 200-day moving average price is $4.52. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -4.39 and a beta of 1.47. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.88 and a quick ratio of 0.88. Clarivate PLC has a 1-year low of $3.04 and a 1-year high of $7.15.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $593.70 million for the quarter, compared to analysts’ expectations of $574.03 million. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.14 EPS. On average, equities analysts predict that Clarivate PLC will post 0.63 earnings per share for the current year.

Clarivate Company Profile

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.