Anchor Capital Advisors LLC trimmed its holdings in shares of Clarivate Plc (NYSE:CLVT – Get Rating) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 586,304 shares of the company’s stock after selling 54,682 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Clarivate were worth $13,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC boosted its holdings in shares of Clarivate by 56.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 4,659 shares of the company’s stock worth $110,000 after buying an additional 1,689 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Clarivate in the 3rd quarter worth about $158,000. Diversified Portfolios Inc. purchased a new position in shares of Clarivate in the 4th quarter worth about $212,000. Steph & Co. boosted its holdings in shares of Clarivate by 21.4% in the 4th quarter. Steph & Co. now owns 9,875 shares of the company’s stock worth $232,000 after buying an additional 1,740 shares during the last quarter. Finally, State of Michigan Retirement System purchased a new position in shares of Clarivate in the 4th quarter worth about $232,000. Institutional investors own 90.87% of the company’s stock.
In related news, insider James Gordon Samson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $14.13, for a total value of $226,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.88% of the stock is currently owned by corporate insiders.
Clarivate (NYSE:CLVT – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $662.20 million for the quarter, compared to analysts’ expectations of $662.84 million. Clarivate had a negative net margin of 10.35% and a positive return on equity of 4.62%. Clarivate’s revenue for the quarter was up 54.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. Sell-side analysts forecast that Clarivate Plc will post 0.71 EPS for the current fiscal year.
CLVT has been the topic of several recent research reports. Barclays downgraded shares of Clarivate from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $25.00 to $16.00 in a report on Thursday, February 3rd. Zacks Investment Research downgraded shares of Clarivate from a “buy” rating to a “hold” rating in a report on Wednesday, March 16th. Morgan Stanley dropped their price objective on shares of Clarivate from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, March 11th. TheStreet cut Clarivate from a “c-” rating to a “d+” rating in a research report on Monday, March 14th. Finally, The Goldman Sachs Group decreased their price target on Clarivate from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, April 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $19.50.
Clarivate Company Profile (Get Rating)
Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.
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