Cove Street Capital LLC Increases Position in Clarivate PLC $CLVT

Cove Street Capital LLC boosted its position in Clarivate PLC (NYSE:CLVT) by 4,075.2% during the third quarter, Holdings Channel reports. The fund owned 452,462 shares of the company’s stock after acquiring an additional 441,625 shares during the period. Clarivate comprises 2.3% of Cove Street Capital LLC’s holdings, making the stock its 16th biggest holding. Cove Street Capital LLC’s holdings in Clarivate were worth $1,733,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Clarivate by 23.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,996,089 shares of the company’s stock valued at $12,883,000 after purchasing an additional 567,003 shares during the last quarter. American Century Companies Inc. lifted its position in Clarivate by 20.6% in the 3rd quarter. American Century Companies Inc. now owns 9,973,797 shares of the company’s stock worth $38,200,000 after buying an additional 1,706,306 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Clarivate by 19.5% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 9,292,470 shares of the company’s stock worth $39,958,000 after buying an additional 1,514,000 shares in the last quarter. CenterBook Partners LP grew its position in Clarivate by 74.8% during the second quarter. CenterBook Partners LP now owns 1,230,121 shares of the company’s stock valued at $5,290,000 after acquiring an additional 526,547 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Clarivate by 310.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 296,256 shares of the company’s stock valued at $1,274,000 after acquiring an additional 223,995 shares during the last quarter. 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 firm’s fifty day moving average is $2.56 and its 200 day moving average is $3.32. Clarivate PLC has a 52 week low of $1.66 and a 52 week high of $4.77. 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 price-to-earnings ratio of -8.58 and a beta of 1.55.

Wall Street Analyst Weigh In

CLVT has been the subject of a number of recent research reports. Morgan Stanley restated an “underweight” rating and issued a $3.00 price objective (down from $5.00) on shares of Clarivate in a report on Wednesday, December 17th. Wall Street Zen cut shares of Clarivate from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Citigroup lowered their price target on shares of Clarivate from $4.25 to $2.80 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Barclays cut 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. Finally, Royal Bank Of Canada lowered their target price on Clarivate from $5.00 to $3.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 25th. Five research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company 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.