Clarivate PLC $CLVT Shares Acquired by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of Clarivate PLC (NYSE:CLVT) by 418.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,015,829 shares of the company’s stock after acquiring an additional 1,627,159 shares during the period. Empowered Funds LLC’s holdings in Clarivate were worth $5,100,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in Clarivate by 11.2% during the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after purchasing an additional 2,617 shares during the last quarter. California State Teachers Retirement System increased its stake in Clarivate by 0.9% in the second quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after purchasing an additional 2,788 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Clarivate by 3.9% in the third quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock valued at $296,000 after purchasing an additional 2,884 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Clarivate by 4.3% during the second quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after purchasing an additional 4,792 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Clarivate by 6.7% during the third quarter. Advisory Services Network LLC now owns 85,200 shares of the company’s stock worth $326,000 after purchasing an additional 5,371 shares in the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Clarivate Stock Performance

Shares of CLVT stock opened at $2.00 on Friday. The stock’s 50-day moving average price is $2.27 and its 200 day moving average price is $2.42. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.28 billion, a PE ratio of -3.86 and a beta of 1.38. Clarivate PLC has a 52-week low of $1.66 and a 52-week high of $4.55.

Clarivate (NYSE:CLVT) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The company had revenue of $587.30 million during the quarter, compared to analysts’ expectations of $589.73 million. During the same period last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Clarivate PLC will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CLVT. The Goldman Sachs Group lowered their target price on shares of Clarivate from $2.90 to $2.60 and set a “neutral” rating for the company in a report on Thursday. Stifel Nicolaus cut their price target on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup decreased their price objective on shares of Clarivate from $2.80 to $2.50 and set a “neutral” rating for the company in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Clarivate currently has a consensus rating of “Reduce” and a consensus price target of $3.02.

Clarivate Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters’ Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.