VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Position in Clarivate PLC $CLVT

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Clarivate PLC (NYSE:CLVT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 198,700 shares of the company’s stock, valued at approximately $854,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp lifted its holdings in Clarivate by 42.9% during the 2nd quarter. Truist Financial Corp now owns 20,000 shares of the company’s stock valued at $86,000 after purchasing an additional 6,000 shares during the last quarter. Greenleaf Trust bought a new position in Clarivate during the 2nd quarter valued at about $65,000. Wedmont Private Capital bought a new position in Clarivate during the 2nd quarter valued at about $53,000. Parallel Advisors LLC lifted its holdings in Clarivate by 688.8% during the 2nd quarter. Parallel Advisors LLC now owns 8,196 shares of the company’s stock valued at $35,000 after purchasing an additional 7,157 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Clarivate by 1.4% during the 1st quarter. Voya Investment Management LLC now owns 4,855,241 shares of the company’s stock valued at $19,081,000 after purchasing an additional 66,716 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CLVT has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of Clarivate in a research note on Wednesday, September 3rd. They issued a “peer perform” rating for the company. Jefferies Financial Group initiated coverage on shares of Clarivate in a research note on Friday, July 18th. They issued a “hold” rating and a $4.50 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarivate in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $4.83.

Clarivate Stock Up 1.5%

Shares of NYSE:CLVT opened at $3.69 on Friday. Clarivate PLC has a one year low of $3.04 and a one year high of $6.72. The company has a 50 day moving average of $4.03 and a 200-day moving average of $4.07. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -5.94 and a beta of 1.44.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Clarivate had a negative net margin of 17.33% and a positive return on equity of 8.65%. The company had revenue of $621.40 million during the quarter, compared to analysts’ expectations of $587.17 million. During the same quarter in the previous year, the company earned $0.20 EPS. Clarivate’s revenue was down 4.4% on a year-over-year basis. Clarivate has set its FY 2025 guidance at 0.600-0.700 EPS. On average, sell-side analysts forecast that Clarivate PLC will post 0.63 earnings per share for the current year.

About Clarivate

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.