First Trust Advisors LP Purchases 247,337 Shares of Clarivate Plc (NYSE:CLVT)

First Trust Advisors LP boosted its position in shares of Clarivate Plc (NYSE:CLVT – Get Rating) by 48.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 761,824 shares of the company’s stock after buying an additional 247,337 shares during the quarter. First Trust Advisors LP’s holdings in Clarivate were worth $7,153,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CLVT. CWM LLC raised its holdings in Clarivate by 341.6% in the 3rd quarter. CWM LLC now owns 3,705 shares of the company’s stock worth $35,000 after purchasing an additional 2,866 shares in the last quarter. Wahed Invest LLC purchased a new stake in shares of Clarivate in the 2nd quarter worth about $64,000. Penserra Capital Management LLC grew its position in shares of Clarivate by 50.0% in the 1st 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. Neo Ivy Capital Management purchased a new stake in shares of Clarivate in the 2nd quarter worth about $80,000. Finally, Forsta AP Fonden purchased a new stake in shares of Clarivate in the 2nd quarter worth about $139,000. 87.34% of the stock is currently owned by institutional investors.

Clarivate Stock Performance

Shares of NYSE CLVT opened at $10.00 on Tuesday. The firm’s 50-day moving average price is $10.52 and its 200-day moving average price is $10.08. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The company has a market cap of $6.74 billion, a PE ratio of -1.61 and a beta of 1.09. Clarivate Plc has a 52-week low of $7.85 and a 52-week high of $17.50.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CLVT shares. Morgan Stanley downgraded shares of Clarivate from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $11.00 to $12.00 in a research report on Monday, February 6th. Wells Fargo & Company upped their target price on shares of Clarivate from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, March 2nd. TheStreet downgraded shares of Clarivate from a “c-” rating to a “d” rating in a research report on Monday, November 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Clarivate in a research report on Friday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.88.

Clarivate Profile

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Clarivate Plc engages in the provision of global information, analytics and workflow solutions. It operates through the Science and Intellectual Property segments. The Science segment is composed of the academia and government, and life science and healthcare product lines. The Intellectual Property segment includes the patent, trademark, domain, and IP management product lines.