Raymond James & Associates Increases Position in Clarivate Plc (NYSE:CLVT)

Raymond James & Associates lifted its holdings in shares of Clarivate Plc (NYSE:CLVT) by 5.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,086,814 shares of the company’s stock after acquiring an additional 297,286 shares during the quarter. Raymond James & Associates’ holdings in Clarivate were worth $45,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CLVT. Exor N.V. raised its stake in shares of Clarivate by 2.4% during the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company’s stock worth $500,001,000 after purchasing an additional 1,566,519 shares during the period. Alaska Permanent Fund Corp raised its position in Clarivate by 6.5% in the first quarter. Alaska Permanent Fund Corp now owns 305,069 shares of the company’s stock worth $2,267,000 after acquiring an additional 18,530 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Clarivate in the 1st quarter worth approximately $18,389,000. Twin Focus Capital Partners LLC purchased a new position in Clarivate in the fourth quarter valued at approximately $232,000. Finally, Glenview Capital Management LLC grew its holdings in Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Clarivate Price Performance

Shares of Clarivate stock traded down $0.09 during trading on Friday, hitting $6.85. The stock had a trading volume of 3,577,809 shares, compared to its average volume of 4,043,443. The business’s 50-day moving average is $7.21 and its 200 day moving average is $7.86. Clarivate Plc has a 12 month low of $6.07 and a 12 month high of $10.03. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -4.63, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. Clarivate’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.20 earnings per share. As a group, sell-side analysts anticipate that Clarivate Plc will post 0.62 earnings per share for the current year.

Clarivate 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.