Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,580 Shares of Clarivate Plc (NYSE:CLVT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Clarivate Plc (NYSE:CLVT) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,557 shares of the company’s stock after acquiring an additional 1,580 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Clarivate were worth $168,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CLVT. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Clarivate by 29.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,992 shares of the company’s stock valued at $404,000 after purchasing an additional 16,261 shares during the last quarter. Iridian Asset Management LLC CT raised its stake in shares of Clarivate by 20.9% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,069,625 shares of the company’s stock worth $6,086,000 after purchasing an additional 184,558 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Clarivate by 19.7% in the 2nd quarter. Raymond James Trust N.A. now owns 227,704 shares of the company’s stock valued at $1,296,000 after buying an additional 37,543 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Clarivate in the second quarter valued at $26,000. Finally, Raymond James & Associates increased its holdings in Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock worth $41,223,000 after buying an additional 1,157,976 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Insider Activity

In other Clarivate news, Director Andrew Miles Snyder purchased 28,938 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $5.49 per share, with a total value of $158,869.62. Following the completion of the transaction, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 22.77% of the stock is currently owned by company insiders.

Clarivate Trading Up 3.3 %

Shares of NYSE:CLVT opened at $6.86 on Tuesday. The stock has a market cap of $4.58 billion, a PE ratio of -4.13, a P/E/G ratio of 3.41 and a beta of 1.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate Plc has a 12-month low of $4.97 and a 12-month high of $9.60. The business has a 50 day moving average of $6.18 and a 200-day moving average of $6.58.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.02. The business had revenue of $650.30 million during the quarter, compared to the consensus estimate of $651.94 million. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. As a group, equities research analysts forecast that Clarivate Plc will post 0.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reduced their price target on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group dropped their price objective on Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $7.75.

About Clarivate

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.