Clarivate PLC $CLVT Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its position in Clarivate PLC (NYSE:CLVT) by 20.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,973,797 shares of the company’s stock after acquiring an additional 1,706,306 shares during the quarter. American Century Companies Inc.’s holdings in Clarivate were worth $38,200,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Clarivate during the second quarter valued at $19,273,000. Bank of America Corp DE grew its position in shares of Clarivate by 506.9% during the 2nd quarter. Bank of America Corp DE now owns 2,870,668 shares of the company’s stock valued at $12,344,000 after buying an additional 2,397,670 shares during the last quarter. Man Group plc raised its stake in Clarivate by 228.1% during the second quarter. Man Group plc now owns 3,091,139 shares of the company’s stock worth $13,292,000 after acquiring an additional 2,148,943 shares during the period. LSV Asset Management bought a new position in Clarivate in the third quarter worth about $8,072,000. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after acquiring an additional 1,514,000 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CLVT. Royal Bank Of Canada dropped their price target on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley reissued an “underweight” rating and set a $3.00 price target (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Barclays reduced their price objective on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, December 29th. Finally, Citigroup decreased their price target on shares of Clarivate from $4.25 to $2.80 and set a “neutral” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $3.22.

Clarivate Price Performance

CLVT opened at $2.74 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $1.75 billion, a P/E ratio of -9.12 and a beta of 1.55. The company’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $3.38. Clarivate PLC has a one year low of $1.66 and a one year high of $4.77.

Clarivate Company 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.