Clarivate PLC $CLVT Stake Trimmed by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its holdings in shares of Clarivate PLC (NYSE:CLVT) by 78.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,500 shares of the company’s stock after selling 220,700 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Clarivate were worth $99,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Personal CFO Solutions LLC bought a new position in Clarivate during the first quarter valued at $30,000. FreeGulliver LLC bought a new stake in shares of Clarivate in the 1st quarter worth about $30,000. Principal Financial Group Inc. purchased a new stake in shares of Clarivate during the 1st quarter valued at about $32,000. Parallel Advisors LLC raised its position in shares of Clarivate by 94.2% during the 1st quarter. Parallel Advisors LLC now owns 13,786 shares of the company’s stock valued at $35,000 after buying an additional 6,687 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Clarivate during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Down 0.2%

NYSE CLVT opened at $2.33 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.92. Clarivate PLC has a 52 week low of $1.42 and a 52 week high of $3.87. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -3.83 and a beta of 1.38. The company has a fifty day moving average of $1.82 and a two-hundred day moving average of $2.20.

Clarivate (NYSE:CLVT) last announced its earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $481.60 million for the quarter, compared to the consensus estimate of $566.77 million. Clarivate had a negative net margin of 17.02% and a positive return on equity of 9.84%. The business’s revenue for the quarter was down 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. On average, analysts predict that Clarivate PLC will post 0.64 earnings per share for the current year.

Analysts Set New Price Targets

CLVT has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on shares of Clarivate in a report on Friday, October 30th. They issued an “underweight” rating and a $1.50 price target for the company. Citigroup decreased their price objective on Clarivate from $2.80 to $2.50 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and set a $2.25 price objective on shares of Clarivate in a research report on Thursday. Barclays lowered their price objective on Clarivate from $2.50 to $2.00 and set an “underweight” rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen cut Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $2.65.

About Clarivate

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.