Williams Jones Wealth Management LLC. lessened its stake in Clarivate Plc (NYSE:CLVT – Get Rating) by 64.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 656,445 shares of the company’s stock after selling 1,165,002 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Clarivate were worth $11,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC acquired a new position in shares of Clarivate in the 1st quarter valued at $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Clarivate in the first quarter valued at about $48,000. Penserra Capital Management LLC boosted its stake in shares of Clarivate by 50.0% during the first quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after buying an additional 1,774 shares during the period. CI Investments Inc. purchased a new position in shares of Clarivate during the first quarter worth about $103,000. Finally, Harbor Investment Advisory LLC increased its position in Clarivate by 38.9% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,471 shares of the company’s stock valued at $108,000 after acquiring an additional 1,812 shares during the period. Hedge funds and other institutional investors own 83.42% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have weighed in on CLVT. Morgan Stanley lowered their target price on Clarivate from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 10th. Royal Bank of Canada dropped their price objective on shares of Clarivate from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Wells Fargo & Company started coverage on shares of Clarivate in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, TheStreet upgraded shares of Clarivate from a “d+” rating to a “c” rating in a research note on Tuesday, May 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.67.
Clarivate Stock Up 1.7 %
Clarivate (NYSE:CLVT – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $686.60 million for the quarter, compared to analysts’ expectations of $691.51 million. Clarivate had a return on equity of 5.47% and a net margin of 1.87%. Equities research analysts anticipate that Clarivate Plc will post 0.71 EPS for the current fiscal year.
Clarivate Company Profile
Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.
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