Clarivate PLC $CLVT Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies increased its stake in Clarivate by 20.6% in Q3, adding 1,706,306 shares to hold 9,973,797 shares (about 1.51% of the company) worth roughly $38.2 million.
• Clarivate (CLVT) recently traded around $2.74 with a 1‑year range of $1.66–$4.77, a market cap of ~$1.75 billion and a negative P/E of -9.12, while institutional investors own about 85.72% of the stock.
• Wall Street sentiment has turned negative with multiple downgrades and lower price targets, and MarketBeat reports a consensus rating of Reduce and a $3.22 average price target.

American Century Companies Inc. increased its stake in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 20.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,973,797 shares of the company's stock after purchasing an additional 1,706,306 shares during the quarter. American Century Companies Inc. owned 1.51% of Clarivate worth $38,200,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CLVT. R Squared Ltd grew its position in shares of Clarivate by 45.8% during the third quarter. R Squared Ltd now owns 19,108 shares of the company's stock worth $73,000 after buying an additional 5,998 shares in the last quarter. Essex Financial Services Inc. acquired a new stake in Clarivate in the third quarter valued at approximately $41,000. Vanguard Group Inc. lifted its stake in Clarivate by 9.3% in the third quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company's stock worth $34,173,000 after acquiring an additional 756,722 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Clarivate during the 3rd quarter worth approximately $47,000. Finally, LSV Asset Management purchased a new stake in shares of Clarivate in the 3rd quarter valued at approximately $8,072,000. Hedge funds and other institutional investors own 85.72% of the company's stock.

Clarivate Price Performance

CLVT stock opened at $2.74 on Friday. Clarivate PLC has a 1 year low of $1.66 and a 1 year high of $4.77. The firm has a market cap of $1.75 billion, a P/E ratio of -9.12 and a beta of 1.55. The stock's 50 day moving average price is $2.64 and its 200 day moving average price is $3.38. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.84 and a current ratio of 0.84.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLVT. Morgan Stanley restated an "underweight" rating and issued a $3.00 price objective (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Citigroup cut their price target on Clarivate from $4.25 to $2.80 and set a "neutral" rating on the stock in a research note on Wednesday. Wall Street Zen cut Clarivate from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Clarivate in a report on Monday, December 29th. Finally, The Goldman Sachs Group cut Clarivate from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $4.20 to $3.60 in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Clarivate has a consensus rating of "Reduce" and a consensus price target of $3.22.

Clarivate Company 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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