Clarivate PLC $CLVT Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors reduced its Clarivate stake by 5.2%, selling 1.1 million shares and retaining 20.2 million shares worth approximately $51.1 million. Institutional investors collectively own 85.72% of the company.
• Analyst sentiment remains weak: Clarivate has a consensus “Reduce” rating, with one Buy, four Hold, and three Sell ratings. The average price target is $3.02, while several firms recently lowered their targets.
• Clarivate shares opened at $2.00, near the lower end of their 52-week range. The company slightly exceeded quarterly EPS expectations at $0.19, but revenue fell 5.5% year over year to $587.3 million.

Dimensional Fund Advisors LP lessened its holdings in shares of Clarivate PLC (NYSE:CLVT - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,216,351 shares of the company's stock after selling 1,108,455 shares during the period. Dimensional Fund Advisors LP owned approximately 3.16% of Clarivate worth $51,143,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Personal CFO Solutions LLC purchased a new position in Clarivate during the 1st quarter worth $30,000. Principal Financial Group Inc. purchased a new stake in Clarivate in the first quarter valued at about $32,000. M&T Bank Corp purchased a new stake in Clarivate in the fourth quarter valued at about $34,000. Parallel Advisors LLC boosted its holdings in 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 in the last quarter. Finally, Jump Financial LLC acquired a new stake in Clarivate in the fourth quarter worth about $41,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Analysts Set New Price Targets

CLVT has been the topic of a number of research analyst reports. Citigroup dropped their price target on Clarivate from $2.80 to $2.50 and set a "neutral" rating on the stock in a research note on Thursday. Wall Street Zen cut shares of Clarivate from a "buy" rating to a "hold" rating in a research note on Saturday. Barclays dropped 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. Stifel Nicolaus cut their price target on shares of Clarivate from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Clarivate in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $3.02.

Clarivate Stock Up 1.3%

Shares of CLVT stock opened at $2.00 on Monday. Clarivate PLC has a fifty-two week low of $1.66 and a fifty-two week high of $4.55. The firm has a market capitalization of $1.28 billion, a PE ratio of -3.86 and a beta of 1.40. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.85 and a current ratio of 0.85. The stock's 50-day simple moving average is $2.27 and its 200-day simple moving average is $2.41.

Clarivate (NYSE:CLVT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $587.30 million during the quarter, compared to the consensus estimate 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 was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that Clarivate PLC will post 0.65 earnings per share for the current year.

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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