Clarkston Capital Partners LLC Sells 3,321,993 Shares of Clarivate PLC $CLVT

Clarkston Capital Partners LLC lowered its holdings in Clarivate PLC (NYSE:CLVT) by 4.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,708,438 shares of the company’s stock after selling 3,321,993 shares during the period. Clarivate comprises 5.5% of Clarkston Capital Partners LLC’s portfolio, making the stock its 3rd largest position. Clarkston Capital Partners LLC owned 10.09% of Clarivate worth $255,493,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CLVT. Russell Investments Group Ltd. increased its holdings in Clarivate by 537.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 38,406 shares of the company’s stock worth $147,000 after purchasing an additional 32,383 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Clarivate by 3.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,768,783 shares of the company’s stock valued at $83,373,000 after buying an additional 696,903 shares during the last quarter. 111 Capital acquired a new stake in shares of Clarivate during the third quarter worth approximately $48,000. American Century Companies Inc. grew its position in shares of Clarivate by 20.6% during the third quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after buying an additional 1,706,306 shares in the last quarter. Finally, R Squared Ltd increased its stake in shares of Clarivate by 45.8% in the third quarter. R Squared Ltd now owns 19,108 shares of the company’s stock worth $73,000 after buying an additional 5,998 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Royal Bank Of Canada reduced their price objective on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 25th. Morgan Stanley reissued an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Barclays reduced their price target on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Five research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.22.

Clarivate Stock Performance

Clarivate stock opened at $2.74 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84. Clarivate PLC has a 12 month low of $1.66 and a 12 month high of $4.77. The company has a fifty day moving average price of $2.64 and a two-hundred day moving average price of $3.37. The company has a market cap of $1.75 billion, a PE ratio of -9.12 and a beta of 1.55.

Clarivate Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.