Invenomic Capital Management LP Sells 682,042 Shares of Clarivate PLC $CLVT

Invenomic Capital Management LP trimmed its position in shares of Clarivate PLC (NYSE:CLVT) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,703,045 shares of the company’s stock after selling 682,042 shares during the quarter. Clarivate accounts for approximately 1.6% of Invenomic Capital Management LP’s portfolio, making the stock its 15th largest holding. Invenomic Capital Management LP owned about 1.32% of Clarivate worth $33,333,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Cetera Investment Advisers boosted its holdings in Clarivate by 11.2% during the second quarter. Cetera Investment Advisers now owns 26,034 shares of the company’s stock worth $112,000 after purchasing an additional 2,617 shares during the last quarter. California State Teachers Retirement System increased its stake in Clarivate by 0.9% in the 2nd quarter. California State Teachers Retirement System now owns 303,147 shares of the company’s stock valued at $1,304,000 after buying an additional 2,788 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Clarivate by 3.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 77,275 shares of the company’s stock worth $296,000 after buying an additional 2,884 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Clarivate by 4.3% in the 2nd quarter. Hsbc Holdings PLC now owns 116,648 shares of the company’s stock worth $500,000 after buying an additional 4,792 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of Clarivate by 5.0% in the third quarter. Campbell & CO Investment Adviser LLC now owns 123,375 shares of the company’s stock valued at $473,000 after acquiring an additional 5,903 shares in the last quarter. 85.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLVT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Clarivate in a report on Monday, December 29th. The Goldman Sachs Group lowered Clarivate from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $4.20 to $3.60 in a report on Thursday, January 8th. Royal Bank Of Canada cut their price objective on Clarivate from $5.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley reiterated an “underweight” rating and set a $3.00 target price (down from $5.00) on shares of Clarivate in a research note on Wednesday, December 17th. Finally, Barclays reduced their price target on shares of Clarivate from $4.00 to $2.40 and set an “underweight” rating for the company in a research report on Wednesday, February 25th. Five analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $3.22.

Clarivate Price Performance

NYSE CLVT opened at $2.58 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.65 billion, a PE ratio of -8.58 and a beta of 1.55. Clarivate PLC has a 52 week low of $1.66 and a 52 week high of $4.77. The firm’s 50-day simple moving average is $2.56 and its two-hundred day simple moving average is $3.30.

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.