Alaska Permanent Fund Corp Boosts Position in Clarivate Plc (NYSE:CLVT)

Alaska Permanent Fund Corp increased its stake in Clarivate Plc (NYSE:CLVT) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,539 shares of the company’s stock after buying an additional 2,539 shares during the period. Alaska Permanent Fund Corp’s holdings in Clarivate were worth $2,653,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in Clarivate by 49.6% during the 3rd quarter. SG Americas Securities LLC now owns 107,908 shares of the company’s stock worth $724,000 after acquiring an additional 35,777 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Clarivate in the 3rd quarter valued at about $122,000. Oak Thistle LLC bought a new stake in shares of Clarivate in the 3rd quarter valued at about $115,000. Simplicity Solutions LLC bought a new stake in shares of Clarivate in the 3rd quarter valued at about $108,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Clarivate by 215.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 83,300 shares of the company’s stock valued at $559,000 after buying an additional 56,900 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CLVT. Royal Bank of Canada lowered their price target on shares of Clarivate from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 28th. Barclays lowered their target price on shares of 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 lowered their target price on shares of 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 lowered their target price on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

Clarivate Stock Performance

Shares of NYSE:CLVT traded down $0.21 during trading on Thursday, hitting $6.90. 189,127 shares of the stock traded hands, compared to its average volume of 4,032,665. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.03. The company has a market cap of $4.61 billion, a price-to-earnings ratio of -4.80, a P/E/G ratio of 1.47 and a beta of 1.24. The company has a fifty day moving average price of $7.49 and a two-hundred day moving average price of $7.86. Clarivate Plc has a 52-week low of $6.07 and a 52-week high of $10.03.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $683.70 million during the quarter, compared to analyst estimates of $687.80 million. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. As a group, equities analysts predict that Clarivate Plc will post 0.61 EPS 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.