Arrowstreet Capital Limited Partnership Acquires Shares of 1,320,982 Clarivate PLC $CLVT

Key Points

• Arrowstreet Capital acquired 1,320,982 Clarivate shares worth approximately $3.34 million, representing a 0.21% stake. Institutional investors collectively own 85.72% of the company.
• Clarivate reported quarterly EPS of $0.19, slightly above the $0.18 analyst consensus, while revenue of $587.3 million fell short of expectations and declined 5.5% year over year.
• Analyst sentiment remains cautious, with Clarivate carrying a consensus “Reduce” rating and an average price target of $3.02; shares recently traded at $1.97.

Arrowstreet Capital Limited Partnership purchased a new position in Clarivate PLC (NYSE:CLVT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,320,982 shares of the company's stock, valued at approximately $3,342,000. Arrowstreet Capital Limited Partnership owned 0.21% of Clarivate as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CLVT. Personal CFO Solutions LLC bought a new stake in shares of Clarivate during the 1st quarter worth $30,000. Principal Financial Group Inc. acquired a new position in Clarivate during the first quarter worth about $32,000. M&T Bank Corp bought a new position in shares of Clarivate in the fourth quarter worth about $34,000. Parallel Advisors LLC lifted its holdings in shares of Clarivate by 94.2% in the first quarter. Parallel Advisors LLC now owns 13,786 shares of the company's stock worth $35,000 after acquiring an additional 6,687 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Clarivate in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Clarivate Stock Up 1.8%

Clarivate stock opened at $1.97 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.93. Clarivate PLC has a 12-month low of $1.66 and a 12-month high of $4.55. The firm's fifty day moving average is $2.25 and its 200 day moving average is $2.39. The company has a market capitalization of $1.26 billion, a PE ratio of -3.80 and a beta of 1.40.

Clarivate (NYSE:CLVT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $587.30 million during the quarter, compared to analysts' expectations of $589.73 million. Clarivate had a positive return on equity of 9.15% and a negative net margin of 13.84%.The company's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that Clarivate PLC will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Clarivate in a research report on Wednesday, June 24th. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a report on Saturday. The Goldman Sachs Group lowered their price objective on Clarivate from $2.90 to $2.60 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Stifel Nicolaus dropped their price objective on shares of Clarivate from $6.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Barclays cut their target price on shares of Clarivate from $2.50 to $2.00 and set an "underweight" rating on the stock in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $3.02.

Clarivate Profile

Clarivate plc is a global information and analytics company that provides insights and workflow solutions to accelerate the pace of innovation. The company delivers proprietary data, analytics, and expertise to support research and development in the life sciences, intellectual property management, academic institutions, government agencies, and corporations. Its core offerings include citation and patent databases, drug pipeline analytics, trademark research tools, regulatory compliance solutions, and market intelligence platforms.

Originally part of Thomson Reuters' Intellectual Property & Science division, Clarivate was established as an independent entity in 2016 following a spin-off transaction.

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