Sumitomo Mitsui Trust Holdings Inc. Cuts Stake in Clarivate Plc (NYSE:CLVT)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Clarivate Plc (NYSE:CLVT – Get Rating) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 923,069 shares of the company’s stock after selling 110,213 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Clarivate were worth $8,668,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new position in Clarivate in the first quarter valued at about $28,000. Ellevest Inc. increased its position in shares of Clarivate by 267.5% during the second quarter. Ellevest Inc. now owns 2,624 shares of the company’s stock worth $36,000 after acquiring an additional 1,910 shares during the last quarter. Wahed Invest LLC purchased a new stake in shares of Clarivate during the second quarter worth about $64,000. Penserra Capital Management LLC increased its position 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 acquiring an additional 1,774 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Clarivate during the second quarter worth about $80,000. 87.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CLVT has been the topic of a number of analyst reports. Wells Fargo & Company dropped their target price on Clarivate from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on Clarivate from $13.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. TheStreet lowered Clarivate from a “c-” rating to a “d” rating in a report on Monday, November 21st. The Goldman Sachs Group lowered their price objective on Clarivate from $17.00 to $14.50 and set a “buy” rating for the company in a report on Wednesday, November 9th. Finally, Morgan Stanley lowered their price objective on Clarivate from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Clarivate has a consensus rating of “Moderate Buy” and an average target price of $13.92.

Clarivate Stock Performance

Shares of CLVT stock opened at $8.97 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.16. The business has a 50 day moving average of $9.26 and a two-hundred day moving average of $11.14. Clarivate Plc has a 52 week low of $7.85 and a 52 week high of $23.38. The company has a market cap of $6.05 billion, a P/E ratio of -1.32 and a beta of 0.99.

Clarivate (NYSE:CLVT – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Clarivate had a positive return on equity of 6.23% and a negative net margin of 172.68%. The company had revenue of $635.70 million during the quarter, compared to the consensus estimate of $643.44 million. As a group, analysts anticipate that Clarivate Plc will post 0.65 EPS for the current year.

Insider Buying and Selling at Clarivate

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $10.48, for a total value of $1,048,000.00. Following the completion of the transaction, the insider now directly owns 737,898 shares in the company, valued at $7,733,171.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 24.88% of the stock is currently owned by insiders.

About Clarivate

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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.