Cerity Partners LLC Buys New Stake in Clarivate Plc (NYSE:CLVT)

Cerity Partners LLC purchased a new stake in Clarivate Plc (NYSE:CLVT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 103,208 shares of the company’s stock, valued at approximately $956,000.

Other hedge funds also recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new position in Clarivate in the third quarter valued at $33,000. Wedmont Private Capital acquired a new position in Clarivate in the 4th quarter valued at about $99,000. Forum Financial Management LP purchased a new stake in Clarivate during the 3rd quarter valued at approximately $81,000. Simplicity Solutions LLC acquired a new stake in Clarivate during the 3rd quarter worth approximately $108,000. Finally, Headlands Technologies LLC purchased a new position in shares of Clarivate in the 3rd quarter valued at approximately $110,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CLVT. Oppenheimer cut their price target on Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada lowered their target price on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Barclays reduced their price objective on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley dropped their target price on Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Clarivate currently has a consensus rating of “Hold” and a consensus target price of $8.00.

Clarivate Trading Up 2.3 %

Shares of CLVT stock opened at $7.15 on Tuesday. The stock has a market cap of $4.78 billion, a P/E ratio of -4.83, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. Clarivate Plc has a fifty-two week low of $6.07 and a fifty-two week high of $10.03. The business has a fifty day simple moving average of $7.57 and a 200-day simple moving average of $7.86.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $683.70 million during the quarter, compared to the consensus estimate of $687.80 million. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.20 EPS. On average, analysts forecast that Clarivate Plc will post 0.61 earnings per share for the current fiscal 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.