220,700 Clarivate PLC $CLVT Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in Clarivate PLC (NYSE:CLVT) by 78.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 59,500 shares of the company’s stock after selling 220,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Clarivate were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. WINTON GROUP Ltd bought a new position in shares of Clarivate in the second quarter worth about $114,000. Engineers Gate Manager LP bought a new stake in Clarivate during the 2nd quarter valued at approximately $431,000. West Family Investments Inc. bought a new stake in Clarivate during the 2nd quarter valued at approximately $43,000. HB Wealth Management LLC bought a new stake in Clarivate during the 2nd quarter valued at approximately $35,000. Finally, BTG Pactual Asset Management US LLC purchased a new position in Clarivate in the 2nd quarter worth approximately $188,000. 85.72% of the stock is owned by institutional investors.

Clarivate Trading Down 0.2%

Shares of Clarivate stock opened at $2.33 on Monday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -3.83 and a beta of 1.38. The business has a 50-day moving average price of $1.82 and a 200-day moving average price of $2.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.92. Clarivate PLC has a twelve month low of $1.42 and a twelve month high of $3.87.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $481.60 million for the quarter, compared to analysts’ expectations of $566.77 million. Clarivate had a positive return on equity of 9.84% and a negative net margin of 17.02%. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue was down 22.7% compared to the same quarter last year. Equities research analysts anticipate that Clarivate PLC will post 0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CLVT shares. Wall Street Zen downgraded Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group cut their price objective on shares of Clarivate from $2.60 to $2.30 and set a “neutral” rating for the company in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a research report on Monday, September 21st. Stifel Nicolaus lowered their target price on shares of Clarivate from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Morgan Stanley started coverage on shares of Clarivate in a research report on Friday, October 30th. They set an “underweight” rating and a $1.50 target price for the company. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.65.

Clarivate Profile

Clarivate Plc (NYSE:CLVT) provides analytics, data, and workflow solutions to organizations in academia, government, research, life sciences, and intellectual property. Its offerings are designed to help customers evaluate research, manage information, accelerate innovation, and support strategic decision-making.

The company’s products include Web of Science research databases and citation analytics, InCites research evaluation tools, Derwent innovation and patent intelligence services, and Cortellis life sciences and drug-development information.