Cresset Asset Management LLC Has $70,000 Stock Position in Clarivate Plc (NYSE:CLVT)

Cresset Asset Management LLC lowered its holdings in Clarivate Plc (NYSE:CLVT) by 18.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,718 shares of the company’s stock after selling 3,147 shares during the quarter. Cresset Asset Management LLC’s holdings in Clarivate were worth $70,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Perpetual Ltd grew its holdings in Clarivate by 24.6% in the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after buying an additional 1,816,936 shares during the last quarter. American Century Companies Inc. grew its holdings in Clarivate by 175.5% in the 4th quarter. American Century Companies Inc. now owns 5,061,276 shares of the company’s stock valued at $25,711,000 after buying an additional 3,224,278 shares during the last quarter. IFP Advisors Inc grew its holdings in Clarivate by 11,132.2% in the 4th quarter. IFP Advisors Inc now owns 20,555 shares of the company’s stock valued at $106,000 after buying an additional 20,372 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Clarivate by 34.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company’s stock valued at $142,000 after buying an additional 7,247 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Clarivate in the 4th quarter valued at approximately $19,172,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of Clarivate in a report on Thursday, February 20th.

Clarivate Stock Performance

CLVT opened at $4.31 on Monday. The stock has a market cap of $2.94 billion, a PE ratio of -4.48 and a beta of 1.49. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Clarivate Plc has a 1 year low of $3.04 and a 1 year high of $7.15. The stock’s 50 day simple moving average is $3.88 and its 200-day simple moving average is $4.67.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $593.70 million for the quarter, compared to analysts’ expectations of $574.03 million. Clarivate had a positive return on equity of 9.10% and a negative net margin of 24.90%. Clarivate’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. Sell-side analysts forecast that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate Company 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.