Bank of America Corp DE Sells 917,956 Shares of Clarivate Plc (NYSE:CLVT)

Bank of America Corp DE lessened its holdings in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 48.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 978,566 shares of the company's stock after selling 917,956 shares during the quarter. Bank of America Corp DE owned 0.14% of Clarivate worth $4,971,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CLVT. RPO LLC acquired a new stake in Clarivate during the 4th quarter worth $55,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clarivate during the 4th quarter worth $56,000. Truist Financial Corp increased its holdings in Clarivate by 27.3% during the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company's stock worth $71,000 after purchasing an additional 3,000 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Clarivate during the 4th quarter worth about $72,000. Finally, KBC Group NV increased its holdings in Clarivate by 77.2% during the 4th quarter. KBC Group NV now owns 18,115 shares of the company's stock worth $92,000 after purchasing an additional 7,890 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CLVT. Wall Street Zen upgraded Clarivate from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Royal Bank of Canada reiterated a "sector perform" rating and set a $6.00 target price on shares of Clarivate in a report on Thursday, February 20th.

Clarivate Stock Down 0.9%

CLVT stock traded down $0.04 during trading hours on Monday, reaching $4.18. 5,391,768 shares of the stock were exchanged, compared to its average volume of 5,191,088. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -4.35 and a beta of 1.49. The firm's 50-day moving average is $3.89 and its 200-day moving average is $4.60. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. Clarivate Plc has a 12 month low of $3.04 and a 12 month high of $7.15.

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

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.