CenterBook Partners LP Sells 687,134 Shares of Clarivate PLC (NYSE:CLVT)

CenterBook Partners LP lessened its stake in Clarivate PLC (NYSE:CLVT - Free Report) by 49.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 703,574 shares of the company's stock after selling 687,134 shares during the period. CenterBook Partners LP owned about 0.10% of Clarivate worth $2,765,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CLVT. American Century Companies Inc. lifted its holdings in Clarivate by 175.5% in the fourth quarter. American Century Companies Inc. now owns 5,061,276 shares of the company's stock worth $25,711,000 after purchasing an additional 3,224,278 shares during the period. Tower Research Capital LLC TRC lifted 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. Norges Bank acquired a new stake in Clarivate in the fourth quarter worth about $27,764,000. Atairos Partners GP Inc. acquired a new stake in Clarivate in the fourth quarter worth about $17,602,000. Finally, Deutsche Bank AG lifted its holdings in Clarivate by 27.4% in the fourth quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock worth $133,000 after purchasing an additional 5,641 shares during the period. Institutional investors own 85.72% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CLVT shares. Jefferies Financial Group started coverage on Clarivate in a report on Friday. They set a "hold" rating and a $4.50 price objective on the stock. Wall Street Zen downgraded Clarivate from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.83.

Clarivate Stock Performance

CLVT traded down $0.08 during trading hours on Friday, reaching $4.23. The company's stock had a trading volume of 5,278,176 shares, compared to its average volume of 5,381,989. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $2.89 billion, a PE ratio of 6.51 and a beta of 1.47. The company's 50-day moving average is $4.29 and its 200-day moving average is $4.37. Clarivate PLC has a 52 week low of $3.04 and a 52 week high of $7.15.

Clarivate (NYSE:CLVT - Get Free Report) last released 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. Clarivate had a positive return on equity of 8.75% and a negative net margin of 26.32%. The business had revenue of $593.70 million for the quarter, compared to analyst estimates of $574.03 million. During the same period last year, the firm posted $0.14 earnings per share. Clarivate's revenue was down 4.4% compared to the same quarter last year. On average, equities analysts forecast that Clarivate PLC will post 0.63 EPS for the current year.

Insider Activity at Clarivate

In other Clarivate news, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $4.53, for a total value of $453,000.00. Following the completion of the sale, the insider directly owned 1,271,103 shares in the company, valued at approximately $5,758,096.59. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 23.18% of the company's stock.

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.