Aster Capital Management DIFC Ltd Increases Stake in Clarivate Plc (NYSE:CLVT)

Aster Capital Management DIFC Ltd grew its stake in shares of Clarivate Plc (NYSE:CLVT) by 6,954.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 112,242 shares of the company’s stock after purchasing an additional 110,651 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Clarivate were worth $570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC grew its stake in shares of Clarivate by 8.6% in 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Clarivate by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,006 shares of the company’s stock valued at $554,000 after buying an additional 7,014 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Clarivate by 112.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares in the last quarter. Verition Fund Management LLC lifted its stake in Clarivate by 707.5% in the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock worth $1,119,000 after acquiring an additional 138,031 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Clarivate by 22.7% in the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock valued at $381,000 after acquiring an additional 9,934 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of Clarivate stock opened at $3.40 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $4.53 and a two-hundred day simple moving average of $5.31. The firm has a market capitalization of $2.34 billion, a P/E ratio of -3.54 and a beta of 1.48. Clarivate Plc has a 12 month low of $3.37 and a 12 month high of $7.67.

Clarivate announced that its board has authorized a stock repurchase program on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

About Clarivate

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.