State Board of Administration of Florida Retirement System Acquires Shares of 209,467 Clarivate Plc (NYSE:CLVT)

State Board of Administration of Florida Retirement System acquired a new stake in Clarivate Plc (NYSE:CLVT) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 209,467 shares of the company’s stock, valued at approximately $5,767,000.

Separately, Citigroup Inc. purchased a new position in shares of Clarivate in the second quarter valued at about $5,284,000. Institutional investors and hedge funds own 71.58% of the company’s stock.

Shares of NYSE CLVT opened at $23.38 on Wednesday. Clarivate Plc has a 1 year low of $20.82 and a 1 year high of $34.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.60 and a quick ratio of 1.60. The company’s 50-day moving average is $24.26 and its 200 day moving average is $25.94. The stock has a market capitalization of $15.02 billion, a P/E ratio of -89.92, a P/E/G ratio of 4.19 and a beta of 0.53.

A number of research firms have issued reports on CLVT. Bank of America began coverage on shares of Clarivate in a research report on Monday, August 16th. They issued a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research cut shares of Clarivate from a “hold” rating to a “sell” rating in a research report on Thursday, August 5th. Finally, Morgan Stanley reduced their price target on shares of Clarivate from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, July 30th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.17.

About Clarivate

Clarivate Plc engages in the provision of trusted insights and analytics to accelerate the pace of innovation. It operates through the Science and Intellectual Property segments. The Science segment comprises the academic and life science product lines. The Intellectual Property segment includes patent, trademark, domain, and IP management product lines.

Further Reading: Growth and Income Funds

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Institutional Ownership by Quarter for Clarivate (NYSE:CLVT)

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