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

Raymond James & Associates cut its position in shares of Clarivate Plc (NYSE:CLVT) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,789,528 shares of the company’s stock after selling 637,992 shares during the period. Raymond James & Associates owned approximately 0.87% of Clarivate worth $53,611,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CLVT. Banque Cantonale Vaudoise purchased a new position in Clarivate during the third quarter worth about $33,000. Tower Research Capital LLC TRC raised its stake in Clarivate by 201.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,682 shares of the company’s stock worth $45,000 after purchasing an additional 3,129 shares during the period. Macquarie Group Ltd. increased its position in shares of Clarivate by 40.5% during the first quarter. Macquarie Group Ltd. now owns 6,077 shares of the company’s stock valued at $57,000 after acquiring an additional 1,753 shares during the last quarter. Forum Financial Management LP acquired a new stake in shares of Clarivate during the third quarter valued at about $81,000. Finally, Penserra Capital Management LLC increased its position in shares of Clarivate by 50.0% during the first quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock valued at $89,000 after acquiring an additional 1,774 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CLVT. Wells Fargo & Company reiterated an “underweight” rating and set a $8.00 price target on shares of Clarivate in a research report on Friday, December 15th. Barclays dropped their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada dropped their price target 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. Oppenheimer dropped their price target on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, 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 report on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Clarivate currently has an average rating of “Hold” and a consensus target price of $8.00.

Clarivate Stock Up 1.6 %

Shares of NYSE:CLVT opened at $7.46 on Thursday. The company has a market capitalization of $4.97 billion, a PE ratio of -5.04, a P/E/G ratio of 1.48 and a beta of 1.25. 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 Plc has a twelve month low of $6.07 and a twelve month high of $10.03. The firm has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $7.82.

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