Tower Research Capital LLC TRC Sells 39,060 Shares of Clarivate Plc (NYSE:CLVT)

Tower Research Capital LLC TRC trimmed its holdings in shares of Clarivate Plc (NYSE:CLVT) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,265 shares of the company’s stock after selling 39,060 shares during the period. Tower Research Capital LLC TRC’s holdings in Clarivate were worth $58,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its holdings in Clarivate by 1,614.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,119,600 shares of the company’s stock worth $7,513,000 after acquiring an additional 1,054,300 shares during the last quarter. Public Sector Pension Investment Board bought a new position in Clarivate during the 3rd quarter valued at approximately $6,710,000. Clarkston Capital Partners LLC grew its position in shares of Clarivate by 12.0% in the 3rd quarter. Clarkston Capital Partners LLC now owns 57,567,115 shares of the company’s stock worth $386,275,000 after buying an additional 6,172,694 shares during the last quarter. Boston Partners increased its stake in shares of Clarivate by 109.6% during the third quarter. Boston Partners now owns 546,671 shares of the company’s stock valued at $3,668,000 after buying an additional 285,881 shares during the period. Finally, HighTower Advisors LLC lifted its stake in Clarivate by 2.9% in the third quarter. HighTower Advisors LLC now owns 144,539 shares of the company’s stock worth $969,000 after acquiring an additional 4,099 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CLVT shares. Barclays lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Wednesday, February 28th. Royal Bank of Canada decreased their price objective on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Oppenheimer reduced their target price on shares of Clarivate from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Morgan Stanley dropped their price objective on shares of Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.00.

Clarivate Stock Performance

Shares of CLVT traded down $0.03 during trading hours on Monday, hitting $7.09. The stock had a trading volume of 1,956,802 shares, compared to its average volume of 4,083,614. Clarivate Plc has a 12 month low of $6.07 and a 12 month high of $10.03. The stock has a fifty day moving average price of $7.38 and a 200 day moving average price of $7.88. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $4.74 billion, a PE ratio of -4.79, a PEG ratio of 1.46 and a beta of 1.24.

Clarivate (NYSE:CLVT) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The business had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. During the same period last year, the firm earned $0.20 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts anticipate that Clarivate Plc will post 0.62 EPS for the current year.

Clarivate Company Profile

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.