Cove Street Capital LLC Grows Position in Clarivate PLC $CLVT

Cove Street Capital LLC raised its holdings in Clarivate PLC (NYSE:CLVT) by 4,075.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,462 shares of the company’s stock after purchasing an additional 441,625 shares during the period. Clarivate accounts for about 2.3% of Cove Street Capital LLC’s holdings, making the stock its 16th biggest position. Cove Street Capital LLC owned 0.07% of Clarivate worth $1,733,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CLVT. Norges Bank bought a new position in Clarivate in the 2nd quarter worth approximately $19,273,000. Bank of America Corp DE raised its holdings in Clarivate by 506.9% during the 2nd quarter. Bank of America Corp DE now owns 2,870,668 shares of the company’s stock valued at $12,344,000 after acquiring an additional 2,397,670 shares during the period. Man Group plc lifted its position in shares of Clarivate by 228.1% during the second quarter. Man Group plc now owns 3,091,139 shares of the company’s stock worth $13,292,000 after acquiring an additional 2,148,943 shares in the last quarter. LSV Asset Management bought a new position in shares of Clarivate in the third quarter worth $8,072,000. Finally, American Century Companies Inc. boosted its holdings in shares of Clarivate by 20.6% in the third 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 period. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Down 0.6%

Shares of NYSE CLVT opened at $2.58 on Friday. 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 business has a 50-day moving average of $2.56 and a 200-day moving average of $3.32. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of -8.58 and a beta of 1.55. Clarivate PLC has a 12 month low of $1.66 and a 12 month high of $4.77.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank Of Canada decreased their price objective on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group cut Clarivate from a “buy” rating to a “neutral” rating and decreased their price target for the company from $4.20 to $3.60 in a research report on Thursday, January 8th. Morgan Stanley reissued an “underweight” rating and issued a $3.00 price target (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Citigroup cut their price objective on shares of Clarivate from $4.25 to $2.80 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. Finally, Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Clarivate currently has an average rating of “Reduce” and a consensus price target 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.