Arizona State Retirement System Grows Position in Clarivate Plc (NYSE:CLVT)

Arizona State Retirement System increased its position in shares of Clarivate Plc (NYSE:CLVT) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,172 shares of the company’s stock after buying an additional 2,064 shares during the period. Arizona State Retirement System’s holdings in Clarivate were worth $479,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CLVT. Forum Financial Management LP acquired a new stake in shares of Clarivate during the second quarter worth $75,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Clarivate by 5.6% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company’s stock worth $168,000 after purchasing an additional 1,580 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Clarivate by 29.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,992 shares of the company’s stock worth $404,000 after purchasing an additional 16,261 shares in the last quarter. Iridian Asset Management LLC CT increased its position in 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. Finally, Raymond James Trust N.A. grew its holdings in 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 period. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Stock Performance

Shares of CLVT stock opened at $6.68 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. Clarivate Plc has a fifty-two week low of $4.97 and a fifty-two week high of $9.60. The stock’s 50-day moving average is $6.37 and its two-hundred day moving average is $6.45. The firm has a market cap of $4.46 billion, a P/E ratio of -4.02, a PEG ratio of 3.24 and a beta of 1.17.

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, topping the consensus estimate of $0.18 by $0.02. The company 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 revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. Analysts predict that Clarivate Plc will post 0.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CLVT shares. Royal Bank of Canada reduced their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Barclays reduced their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.75.

Insider Buying and Selling

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction on Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Clarivate news, Director Andrew Miles Snyder bought 28,938 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of $5.49 per share, with a total value of $158,869.62. Following the completion of the purchase, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $6.75, for a total value of $119,110.50. Following the transaction, the director now directly owns 23,741 shares of the company’s stock, valued at $160,251.75. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

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.