Man Group plc Purchases New Shares in Clarivate Plc (NYSE:CLVT)

Man Group plc purchased a new stake in shares of Clarivate Plc (NYSE:CLVT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 16,123 shares of the company’s stock, valued at approximately $82,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in Clarivate by 17.3% during the fourth quarter. Xponance Inc. now owns 18,222 shares of the company’s stock valued at $93,000 after buying an additional 2,689 shares during the period. Truist Financial Corp grew its position in shares of Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the period. Deutsche Bank AG grew its position in shares of Clarivate by 27.4% in the fourth quarter. Deutsche Bank AG now owns 26,217 shares of the company’s stock valued at $133,000 after purchasing an additional 5,641 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Clarivate by 34.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company’s stock valued at $142,000 after purchasing an additional 7,247 shares during the period. Finally, KBC Group NV grew its position in shares of Clarivate by 77.2% in the fourth quarter. KBC Group NV now owns 18,115 shares of the company’s stock valued at $92,000 after purchasing an additional 7,890 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CLVT has been the topic of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of Clarivate in a research report on Thursday, February 20th. Wall Street Zen upgraded shares of Clarivate from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd.

Clarivate Stock Performance

NYSE:CLVT opened at $4.24 on Thursday. The company’s 50-day moving average price is $3.88 and its 200-day moving average price is $4.60. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.89 billion, a P/E ratio of -4.41 and a beta of 1.49. Clarivate Plc has a twelve month low of $3.04 and a twelve month high of $7.15.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $593.70 million for the quarter, compared to the consensus estimate of $574.03 million. Clarivate had a negative net margin of 24.90% and a positive return on equity of 9.10%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $0.14 earnings per share. On average, sell-side analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

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.