Sumitomo Mitsui DS Asset Management Company Ltd Sells 19,494 Shares of Clarivate Plc (NYSE:CLVT)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in Clarivate Plc (NYSE:CLVT) by 47.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,456 shares of the company’s stock after selling 19,494 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Clarivate were worth $199,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Baupost Group LLC MA purchased a new stake in Clarivate in the third quarter worth about $150,975,000. River Road Asset Management LLC purchased a new stake in shares of Clarivate in the 3rd quarter worth approximately $45,772,000. Clarkston Capital Partners LLC boosted its stake in shares of Clarivate by 12.0% during the third quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company’s stock valued at $386,275,000 after purchasing an additional 6,172,694 shares in the last quarter. Impactive Capital LP increased its holdings in Clarivate by 15.7% during the third quarter. Impactive Capital LP now owns 33,108,919 shares of the company’s stock valued at $222,161,000 after buying an additional 4,500,000 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in Clarivate by 40.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 8,399,229 shares of the company’s stock worth $56,358,000 after buying an additional 2,435,239 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Oppenheimer dropped their target price on Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley cut 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 decreased 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. Finally, Barclays lowered their price target on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Clarivate presently has an average rating of “Hold” and an average target price of $8.00.

Clarivate Stock Down 1.5 %

NYSE:CLVT opened at $7.01 on Friday. 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 company has a market cap of $4.68 billion, a PE ratio of -4.73, a P/E/G ratio of 1.47 and a beta of 1.24. The company’s 50 day moving average is $7.45 and its two-hundred day moving average is $7.86.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The firm had revenue of $683.70 million for the quarter, compared to analyst estimates of $687.80 million. During the same period in the previous year, the company earned $0.20 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Clarivate Plc will post 0.61 EPS for the current year.

About Clarivate

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.