CenterBook Partners LP Decreases Holdings in Clarivate PLC $CLVT

CenterBook Partners LP decreased its holdings in Clarivate PLC (NYSE:CLVT) by 38.7% in the third quarter, Holdings Channel.com reports. The firm owned 753,482 shares of the company’s stock after selling 476,639 shares during the period. CenterBook Partners LP’s holdings in Clarivate were worth $2,886,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CLVT. Bank of New York Mellon Corp boosted its holdings in Clarivate by 23.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock valued at $12,883,000 after acquiring an additional 567,003 shares during the period. AGF Management Ltd. increased its stake in Clarivate by 20.4% in the 2nd quarter. AGF Management Ltd. now owns 731,048 shares of the company’s stock worth $3,144,000 after purchasing an additional 123,819 shares during the period. Edmond DE Rothschild Holding S.A. lifted its position in Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock valued at $39,958,000 after purchasing an additional 1,514,000 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Clarivate by 24.6% during the second quarter. American Century Companies Inc. now owns 8,267,491 shares of the company’s stock valued at $35,550,000 after purchasing an additional 1,633,837 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clarivate by 310.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock worth $1,274,000 after purchasing an additional 223,995 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 0.3%

Shares of CLVT opened at $1.79 on Thursday. The firm’s 50-day moving average price is $2.92 and its 200-day moving average price is $3.52. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.13 and a beta of 1.51. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.90. Clarivate PLC has a 1-year low of $1.74 and a 1-year high of $5.16.

Insider Buying and Selling

In other Clarivate news, insider Bar Veinstein sold 309,902 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the transaction, the insider owned 848,811 shares in the company, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. Wall Street Zen raised shares of Clarivate from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and cut their target price for the stock from $4.20 to $3.60 in a research note on Thursday, January 8th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price target (down previously from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clarivate currently has an average rating of “Reduce” and a consensus price target of $4.28.

About Clarivate

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.