Iridian Asset Management LLC CT Has $5.11 Million Stock Position in Clarivate PLC $CLVT

Iridian Asset Management LLC CT grew its stake in shares of Clarivate PLC (NYSE:CLVT) by 52.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,528,410 shares of the company’s stock after purchasing an additional 525,452 shares during the period. Clarivate makes up 1.9% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 21st biggest holding. Iridian Asset Management LLC CT’s holdings in Clarivate were worth $5,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. American Century Companies Inc. raised its holdings in shares of Clarivate by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after acquiring an additional 1,706,306 shares during the last quarter. Cove Street Capital LLC raised its holdings in shares of Clarivate by 4,075.2% in the 3rd quarter. Cove Street Capital LLC now owns 452,462 shares of the company’s stock worth $1,733,000 after acquiring an additional 441,625 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Clarivate in the 3rd quarter worth about $8,072,000. Perpetual Ltd raised its holdings in shares of Clarivate by 3.4% in the 3rd quarter. Perpetual Ltd now owns 8,567,267 shares of the company’s stock worth $32,813,000 after acquiring an additional 281,950 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Clarivate by 16.4% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 286,507 shares of the company’s stock worth $1,097,000 after acquiring an additional 40,404 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of CLVT opened at $2.18 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 company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -7.25 and a beta of 1.39. The stock has a 50 day moving average of $2.30 and a 200 day moving average of $3.05. Clarivate PLC has a 12 month low of $1.66 and a 12 month high of $4.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CLVT shares. Morgan Stanley restated an “underweight” rating and issued a $3.00 target price (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Wall Street Zen lowered shares of Clarivate from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Royal Bank Of Canada lowered their target price on shares of Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. The Goldman Sachs Group lowered shares of Clarivate from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Finally, Barclays lowered their target price on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating on the stock in a report on Wednesday, February 25th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $3.22.

Clarivate Company 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.