Confluence Investment Management LLC Buys New Stake in Clarivate Plc (NYSE:CLVT)

Confluence Investment Management LLC bought a new stake in Clarivate Plc (NYSE:CLVT) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,475,002 shares of the company’s stock, valued at approximately $18,389,000. Confluence Investment Management LLC owned 0.37% of Clarivate at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Clarivate by 52.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,495,760 shares of the company’s stock valued at $30,167,000 after purchasing an additional 1,544,706 shares during the period. HighTower Advisors LLC increased its position in shares of Clarivate by 2.9% during the 3rd quarter. HighTower Advisors LLC now owns 144,539 shares of the company’s stock valued at $969,000 after purchasing an additional 4,099 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of Clarivate by 11.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 343,657 shares of the company’s stock valued at $2,306,000 after purchasing an additional 36,500 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Clarivate during the 3rd quarter valued at $316,000. Finally, CI Investments Inc. increased its position in shares of Clarivate by 506.3% during the 3rd quarter. CI Investments Inc. now owns 40,626 shares of the company’s stock valued at $273,000 after purchasing an additional 33,925 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Performance

CLVT opened at $5.32 on Wednesday. Clarivate Plc has a 1 year low of $5.19 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a fifty day moving average price of $6.36 and a 200 day moving average price of $7.66.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, May 8th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Clarivate had a positive return on equity of 10.11% and a negative net margin of 39.29%. The company had revenue of $621.20 million for the quarter, compared to analyst estimates of $614.57 million. As a group, equities analysts expect that Clarivate Plc will post 0.62 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on CLVT. Royal Bank of Canada reduced their price objective on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 28th. The Goldman Sachs Group reduced their price objective on Clarivate from $8.50 to $7.50 and set a “buy” rating for the company in a research note on Thursday, May 9th. Barclays reduced their price objective on Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Morgan Stanley reduced their price objective on Clarivate from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 28th. Finally, Oppenheimer reduced their price objective on Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $7.78.

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.