CenterBook Partners LP Sells 476,639 Shares of Clarivate PLC $CLVT

CenterBook Partners LP reduced its stake in Clarivate PLC (NYSE:CLVT) by 38.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 753,482 shares of the company’s stock after selling 476,639 shares during the period. CenterBook Partners LP owned approximately 0.11% of Clarivate worth $2,886,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CLVT. Edmond DE Rothschild Holding S.A. lifted its holdings in Clarivate by 19.5% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock worth $39,958,000 after purchasing an additional 1,514,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Clarivate by 9.3% during the third quarter. Vanguard Group Inc. now owns 8,922,585 shares of the company’s stock valued at $34,173,000 after buying an additional 756,722 shares during the period. Perpetual Ltd lifted its holdings in shares of Clarivate by 3.4% in the third quarter. Perpetual Ltd now owns 8,567,267 shares of the company’s stock worth $32,813,000 after buying an additional 281,950 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Clarivate by 24.6% in the second quarter. American Century Companies Inc. now owns 8,267,491 shares of the company’s stock valued at $35,550,000 after acquiring an additional 1,633,837 shares during the period. Finally, Cooper Creek Partners Management LLC grew its stake in Clarivate by 3.2% during the second quarter. Cooper Creek Partners Management LLC now owns 5,350,176 shares of the company’s stock valued at $23,006,000 after acquiring an additional 168,018 shares in the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Clarivate

In other news, insider Bar Veinstein sold 309,902 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $3.74, for a total transaction of $1,159,033.48. Following the transaction, the insider directly owned 848,811 shares in the company, valued at approximately $3,174,553.14. This represents a 26.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 23.18% of the company’s stock.

Clarivate Stock Down 0.3%

Shares of NYSE:CLVT opened at $1.79 on Thursday. The firm has a market capitalization of $1.18 billion, a PE ratio of -3.13 and a beta of 1.51. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.87 and a current ratio of 0.87. Clarivate PLC has a 52-week low of $1.74 and a 52-week high of $5.16. The firm has a fifty day moving average of $2.92 and a 200 day moving average of $3.52.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLVT. Wall Street Zen raised shares of Clarivate from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.00 price target (down previously from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Clarivate in a research note on Monday, December 29th. Finally, The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $4.20 to $3.60 in a research note on Thursday, January 8th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $4.28.

About Clarivate

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.