Clarivate Plc (NYSE:CLVT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System lowered its stake in Clarivate Plc (NYSE:CLVT) by 7.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,067 shares of the company’s stock after selling 7,157 shares during the quarter. Arizona State Retirement System’s holdings in Clarivate were worth $788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. US Bancorp DE increased its stake in Clarivate by 5.6% in the 1st quarter. US Bancorp DE now owns 14,343 shares of the company’s stock worth $240,000 after purchasing an additional 765 shares in the last quarter. Alliancebernstein L.P. increased its stake in Clarivate by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 215,181 shares of the company’s stock worth $2,021,000 after purchasing an additional 1,605 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Clarivate by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,950 shares of the company’s stock worth $275,000 after purchasing an additional 1,751 shares in the last quarter. Macquarie Group Ltd. increased its stake in Clarivate by 40.5% in the 1st quarter. Macquarie Group Ltd. now owns 6,077 shares of the company’s stock worth $57,000 after purchasing an additional 1,753 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in Clarivate by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after purchasing an additional 1,774 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 1.8 %

Shares of Clarivate stock opened at $6.91 on Thursday. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of -4.67, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. Clarivate Plc has a 52-week low of $6.07 and a 52-week high of $10.03. The stock has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $7.84.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The firm had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. During the same period in the previous year, the company earned $0.20 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Clarivate Plc will post 0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on CLVT shares. Morgan Stanley lowered their target price 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. Royal Bank of Canada lowered their target price on Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 28th. Barclays lowered their target price on Clarivate from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 28th. Finally, Oppenheimer lowered their target price on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Three 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.00.

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.