Handelsbanken Fonder AB Grows Stock Holdings in Clarivate Plc (NYSE:CLVT)

Handelsbanken Fonder AB increased its position in shares of Clarivate Plc (NYSE:CLVT) by 103.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,600 shares of the company’s stock after purchasing an additional 65,000 shares during the period. Handelsbanken Fonder AB’s holdings in Clarivate were worth $1,182,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CLVT. Banque Cantonale Vaudoise acquired a new position in shares of Clarivate during the 3rd quarter worth about $33,000. Forum Financial Management LP acquired a new position in Clarivate in the third quarter valued at approximately $81,000. Wedmont Private Capital acquired a new position in Clarivate in the fourth quarter valued at approximately $99,000. Simplicity Solutions LLC purchased a new position in Clarivate in the third quarter valued at approximately $108,000. Finally, Headlands Technologies LLC acquired a new stake in Clarivate during the third quarter worth approximately $110,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 1.7 %

Clarivate stock opened at $7.12 on Monday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -4.81, a PEG ratio of 1.46 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03. The stock has a 50 day moving average of $7.41 and a two-hundred day moving average of $7.88. Clarivate Plc has a twelve month low of $6.07 and a twelve month high of $10.03.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million for the quarter, compared to analyst estimates of $687.80 million. During the same period in the previous year, the business posted $0.20 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Clarivate Plc will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

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

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.