Northern Trust Corp Sells 334,053 Shares of Clarivate Plc (NYSE:CLVT)

Northern Trust Corp cut its position in Clarivate Plc (NYSE:CLVT - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,270,024 shares of the company's stock after selling 334,053 shares during the period. Northern Trust Corp owned about 0.32% of Clarivate worth $11,532,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Xponance Inc. raised its holdings in Clarivate by 17.3% in the fourth quarter. Xponance Inc. now owns 18,222 shares of the company's stock worth $93,000 after purchasing an additional 2,689 shares during the period. Truist Financial Corp raised its holdings in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company's stock worth $71,000 after purchasing an additional 3,000 shares during the period. Tower Research Capital LLC TRC raised its holdings in Clarivate by 34.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 27,995 shares of the company's stock worth $142,000 after purchasing an additional 7,247 shares during the period. KBC Group NV raised its holdings in Clarivate by 77.2% in the fourth quarter. KBC Group NV now owns 18,115 shares of the company's stock worth $92,000 after purchasing an additional 7,890 shares during the period. Finally, Arizona State Retirement System raised its holdings in Clarivate by 9.2% in the fourth quarter. Arizona State Retirement System now owns 94,570 shares of the company's stock worth $480,000 after purchasing an additional 7,983 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Price Performance

Shares of NYSE CLVT remained flat at $4.19 during mid-day trading on Thursday. 5,037,493 shares of the stock were exchanged, compared to its average volume of 5,226,252. The firm's fifty day moving average is $3.89 and its 200-day moving average is $4.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market capitalization of $2.86 billion, a PE ratio of -4.36 and a beta of 1.49. Clarivate Plc has a one year low of $3.04 and a one year high of $7.15.

Clarivate (NYSE:CLVT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Clarivate had a negative net margin of 24.90% and a positive return on equity of 9.10%. The business had revenue of $593.70 million during the quarter, compared to analysts' expectations of $574.03 million. During the same quarter in the previous year, the company earned $0.14 EPS. The business's revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Clarivate Plc will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CLVT shares. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price objective on shares of Clarivate in a research report on Thursday, February 20th. Wall Street Zen raised shares of Clarivate from a "hold" rating to a "buy" rating in a research report on Thursday.

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.