Quantbot Technologies LP Makes New Investment in Clarivate Plc (NYSE:CLVT)

Quantbot Technologies LP bought a new stake in shares of Clarivate Plc (NYSE:CLVT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 181,369 shares of the company’s stock, valued at approximately $921,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after purchasing an additional 3,245 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in shares of Clarivate during the 4th quarter valued at $58,000. Truist Financial Corp grew its stake in shares of Clarivate by 27.3% during the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the period. KBC Group NV increased its holdings in Clarivate by 77.2% in the 4th quarter. KBC Group NV now owns 18,115 shares of the company’s stock worth $92,000 after acquiring an additional 7,890 shares during the last quarter. Finally, Xponance Inc. raised its stake in Clarivate by 17.3% in the 4th quarter. Xponance Inc. now owns 18,222 shares of the company’s stock valued at $93,000 after acquiring an additional 2,689 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate Price Performance

Shares of NYSE CLVT opened at $4.00 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.87. Clarivate Plc has a fifty-two week low of $3.92 and a fifty-two week high of $7.77. The stock has a market cap of $2.76 billion, a PE ratio of -4.17 and a beta of 1.28. The stock has a fifty day moving average of $4.73 and a 200-day moving average of $5.45.

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

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.