Zurcher Kantonalbank Zurich Cantonalbank Has $554,000 Stock Holdings in Clarivate Plc (NYSE:CLVT)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Clarivate Plc (NYSE:CLVT) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,006 shares of the company’s stock after purchasing an additional 7,014 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Clarivate were worth $554,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Nisa Investment Advisors LLC bought a new stake in Clarivate in the second quarter worth $26,000. Truist Financial Corp bought a new stake in shares of Clarivate during the 2nd quarter worth about $63,000. KBC Group NV increased its holdings in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after acquiring an additional 2,549 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Clarivate in the 2nd quarter valued at approximately $75,000. Finally, Headlands Technologies LLC lifted its holdings in Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock worth $83,000 after purchasing an additional 12,909 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CLVT. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, Barclays lowered their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Clarivate currently has an average rating of “Hold” and an average price target of $7.25.

Insider Activity at Clarivate

In other Clarivate news, Director Michael J. Angelakis purchased 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average price of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the transaction, the director now directly owns 1,500,000 shares of the company’s stock, valued at approximately $7,665,000. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of Clarivate stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now directly owns 916,583 shares in the company, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is currently owned by corporate insiders.

Clarivate Stock Performance

NYSE CLVT opened at $5.72 on Friday. The company’s fifty day moving average is $5.97 and its two-hundred day moving average is $6.09. Clarivate Plc has a 52-week low of $4.25 and a 52-week high of $9.60. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -2.87 and a beta of 1.12.

Clarivate (NYSE:CLVT) last released its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.19. The business had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. Equities research analysts forecast that Clarivate Plc will post 0.63 EPS for the current year.

Clarivate Company Profile

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.