VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Clarivate PLC $CLVT

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Clarivate PLC (NYSE:CLVT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 198,700 shares of the company’s stock, valued at approximately $854,000.

A number of other institutional investors have also recently bought and sold shares of CLVT. HG Vora Capital Management LLC acquired a new position in Clarivate during the first quarter valued at approximately $47,160,000. AustralianSuper Pty Ltd acquired a new position in shares of Clarivate in the first quarter valued at approximately $39,593,000. Clarkston Capital Partners LLC boosted its holdings in shares of Clarivate by 5.4% in the first quarter. Clarkston Capital Partners LLC now owns 74,527,914 shares of the company’s stock valued at $292,895,000 after buying an additional 3,794,083 shares during the period. Timucuan Asset Management Inc. FL acquired a new position in shares of Clarivate in the first quarter valued at approximately $8,859,000. Finally, Invenomic Capital Management LP boosted its holdings in shares of Clarivate by 28.8% in the first quarter. Invenomic Capital Management LP now owns 8,480,296 shares of the company’s stock valued at $33,328,000 after buying an additional 1,894,589 shares during the period. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT stock opened at $3.69 on Friday. The company’s fifty day simple moving average is $4.03 and its 200-day simple moving average is $4.07. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.48 billion, a PE ratio of -5.94 and a beta of 1.44. Clarivate PLC has a 12 month low of $3.04 and a 12 month high of $6.72.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The business had revenue of $621.40 million for the quarter, compared to analyst estimates of $587.17 million. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. Equities research analysts expect that Clarivate PLC will post 0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLVT has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Clarivate in a report on Friday, July 18th. They issued a “hold” rating and a $4.50 price target for the company. Wolfe Research initiated coverage on shares of Clarivate in a report on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarivate in a report on Tuesday, October 14th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $4.83.

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.