Alaska Permanent Fund Corp Increases Stake in Clarivate Plc (NYSE:CLVT)

Alaska Permanent Fund Corp grew its position in shares of Clarivate Plc (NYSE:CLVT) by 6.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 305,069 shares of the company’s stock after buying an additional 18,530 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Clarivate were worth $2,267,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CLVT. Exor N.V. increased its holdings in shares of Clarivate by 102.4% in the 4th quarter. Exor N.V. now owns 65,728,365 shares of the company’s stock valued at $608,645,000 after purchasing an additional 33,256,346 shares in the last quarter. Baupost Group LLC MA purchased a new position in Clarivate during the 3rd quarter valued at about $150,975,000. Norges Bank purchased a new position in Clarivate during the 4th quarter valued at about $54,457,000. Glenview Capital Management LLC increased its holdings in Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after acquiring an additional 4,472,302 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Clarivate during the 4th quarter worth about $25,576,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

Clarivate Stock Performance

CLVT opened at $5.47 on Friday. The firm’s 50 day moving average is $6.27 and its 200-day moving average is $7.63. Clarivate Plc has a 52-week low of $5.19 and a 52-week high of $10.03. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $621.20 million during the quarter, compared to the consensus estimate of $614.57 million. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. On average, equities research analysts predict that Clarivate Plc will post 0.62 earnings per share for the current year.

Clarivate 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.