First Manhattan CO. LLC. Decreases Stake in Clarivate Plc (NYSE:CLVT)

First Manhattan CO. LLC. decreased its holdings in shares of Clarivate Plc (NYSE:CLVT) by 1.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,357,625 shares of the company’s stock after selling 13,175 shares during the quarter. First Manhattan CO. LLC.’s holdings in Clarivate were worth $6,897,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings in Clarivate by 161.4% in the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after buying an additional 3,245 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in Clarivate during the fourth quarter worth about $58,000. Perpetual Ltd grew its stake in shares of Clarivate by 24.6% in the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after buying an additional 1,816,936 shares during the period. KBC Group NV increased its holdings in shares of 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 buying an additional 7,890 shares during the last quarter. Finally, Iridian Asset Management LLC CT raised its position in shares of Clarivate by 7.2% during the 4th quarter. Iridian Asset Management LLC CT now owns 1,120,550 shares of the company’s stock valued at $5,692,000 after buying an additional 74,871 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Price Performance

Shares of CLVT opened at $4.29 on Friday. The firm has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $4.77. The stock has a market cap of $2.93 billion, a PE ratio of -4.47 and a beta of 1.49. Clarivate Plc has a 1-year low of $3.04 and a 1-year high of $7.15. 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 (NYSE:CLVT) last posted its earnings results 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 negative net margin of 24.90% and a positive return on equity of 9.10%. The firm had revenue of $593.70 million during the quarter, compared to the consensus estimate of $574.03 million. During the same quarter last year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, analysts forecast that Clarivate Plc will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate 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.