Invenomic Capital Management LP Sells 682,042 Shares of Clarivate PLC $CLVT

Invenomic Capital Management LP decreased its stake in shares of Clarivate PLC (NYSE:CLVT) by 7.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 8,703,045 shares of the company’s stock after selling 682,042 shares during the period. Clarivate accounts for 1.6% of Invenomic Capital Management LP’s investment portfolio, making the stock its 15th largest position. Invenomic Capital Management LP’s holdings in Clarivate were worth $33,333,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Clarivate by 96.2% in the first quarter. Royal Bank of Canada now owns 63,630 shares of the company’s stock valued at $250,000 after acquiring an additional 31,197 shares during the period. AQR Capital Management LLC increased its holdings in Clarivate by 37.0% during the 1st quarter. AQR Capital Management LLC now owns 451,872 shares of the company’s stock worth $1,749,000 after acquiring an additional 122,099 shares during the period. Millennium Management LLC lifted its stake in Clarivate by 1,420.4% in the 1st quarter. Millennium Management LLC now owns 1,188,978 shares of the company’s stock worth $4,673,000 after purchasing an additional 1,110,774 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Clarivate by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 616,250 shares of the company’s stock valued at $2,422,000 after purchasing an additional 82,768 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Clarivate by 13.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,243,683 shares of the company’s stock valued at $4,888,000 after purchasing an additional 144,462 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Clarivate Price Performance

CLVT opened at $2.58 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.65 billion, a P/E ratio of -8.58 and a beta of 1.55. The stock has a 50-day moving average price of $2.56 and a 200-day moving average price of $3.30. Clarivate PLC has a 12-month low of $1.66 and a 12-month high of $4.77.

Analysts Set New Price Targets

CLVT has been the topic of several research analyst reports. Citigroup decreased their price target on shares of Clarivate from $4.25 to $2.80 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Morgan Stanley restated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research report on Wednesday, December 17th. The Goldman Sachs Group lowered 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. Royal Bank Of Canada dropped their price target on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 25th. Finally, Barclays decreased their price objective on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a research report on Wednesday, February 25th. Five investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Clarivate currently has an average rating of “Reduce” and a consensus price target of $3.22.

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.