Clarivate Plc (NYSE:CLVT) Position Increased by KBC Group NV

KBC Group NV boosted its position in shares of Clarivate Plc (NYSE:CLVT) by 77.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,115 shares of the company’s stock after purchasing an additional 7,890 shares during the period. KBC Group NV’s holdings in Clarivate were worth $92,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLVT. Perpetual Ltd lifted its position in shares of Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock worth $46,699,000 after buying an additional 1,816,936 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Clarivate by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after purchasing an additional 571,289 shares during the last quarter. FMR LLC boosted its position in Clarivate by 8.6% during the third quarter. FMR LLC now owns 5,088,942 shares of the company’s stock worth $36,131,000 after purchasing an additional 401,920 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Clarivate by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company’s stock valued at $32,692,000 after purchasing an additional 38,355 shares during the last quarter. Finally, Clearline Capital LP grew its holdings in Clarivate by 7.6% during the third quarter. Clearline Capital LP now owns 2,247,322 shares of the company’s stock valued at $15,956,000 after purchasing an additional 158,900 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Trading Up 1.0 %

Shares of CLVT opened at $5.06 on Monday. The stock’s 50-day moving average price is $5.26 and its 200 day moving average price is $5.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -2.54 and a beta of 1.17. Clarivate Plc has a 12-month low of $4.25 and a 12-month high of $9.60.

Clarivate announced that its Board of Directors has authorized a share repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Michael J. Angelakis acquired 1,500,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $5.11 per share, for a total transaction of $7,665,000.00. Following the purchase, the director now owns 1,500,000 shares in the company, valued at approximately $7,665,000. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.77% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CLVT. Royal Bank of Canada decreased their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. 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. Finally, William Blair downgraded Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.10.

Clarivate 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.