Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Clarivate Plc (NYSE:CLVT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Clarivate Plc (NYSE:CLVT) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,841 shares of the company’s stock after purchasing an additional 6,284 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Clarivate were worth $254,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Exor N.V. boosted its position in Clarivate by 2.4% during the 1st quarter. Exor N.V. now owns 67,294,884 shares of the company’s stock worth $500,001,000 after purchasing an additional 1,566,519 shares during the period. Principal Financial Group Inc. boosted its position in shares of Clarivate by 31.4% in the first quarter. Principal Financial Group Inc. now owns 39,027 shares of the company’s stock worth $290,000 after buying an additional 9,328 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in shares of Clarivate in the first quarter valued at about $76,000. Capstone Investment Advisors LLC purchased a new stake in shares of Clarivate during the 1st quarter valued at about $305,000. Finally, Iridian Asset Management LLC CT boosted its holdings in Clarivate by 25.3% in the 1st quarter. Iridian Asset Management LLC CT now owns 885,067 shares of the company’s stock worth $6,576,000 after acquiring an additional 178,946 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analysts Set New Price Targets

CLVT has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays cut their price objective on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.58.

Clarivate Stock Down 1.5 %

Shares of NYSE:CLVT opened at $6.54 on Thursday. The firm has a market cap of $4.37 billion, a PE ratio of -3.94 and a beta of 1.17. The company has a fifty day simple moving average of $6.67 and a 200 day simple moving average of $6.36. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. The business had revenue of $650.30 million for the quarter, compared to analyst estimates of $651.94 million. Clarivate had a negative net margin of 46.53% and a positive return on equity of 10.01%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.16 EPS. On average, equities research analysts anticipate that Clarivate Plc will post 0.64 EPS for the current fiscal year.

Insider Transactions at Clarivate

In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the completion of the purchase, the director now directly owns 288,334 shares in the company, valued at approximately $1,582,953.66. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $5.49 per share, with a total value of $158,869.62. Following the completion of the acquisition, the director now directly owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,646 shares of company stock worth $1,379,111. 22.77% of the stock is currently owned by corporate insiders.

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.