Headlands Technologies LLC Takes Position in Clarivate Plc (NYSE:CLVT)

Headlands Technologies LLC bought a new stake in shares of Clarivate Plc (NYSE:CLVT) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 21,969 shares of the company’s stock, valued at approximately $112,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Clarivate by 161.4% during 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 in the last quarter. Kathmere Capital Management LLC acquired a new stake in Clarivate in the 4th quarter valued at $58,000. Truist Financial Corp grew its position in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the period. Fox Run Management L.L.C. acquired a new position in Clarivate during the fourth quarter worth $72,000. Finally, KBC Group NV lifted its holdings in shares of Clarivate by 77.2% during the fourth quarter. KBC Group NV now owns 18,115 shares of the company’s stock valued at $92,000 after acquiring an additional 7,890 shares during the period. Institutional investors own 85.72% of the company’s stock.

Clarivate Trading Down 7.2 %

Shares of CLVT opened at $3.40 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.87. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -3.54 and a beta of 1.48. The stock has a fifty day moving average price of $4.53 and a two-hundred day moving average price of $5.31. Clarivate Plc has a 52-week low of $3.37 and a 52-week high of $7.67.

Clarivate declared that its Board of Directors has initiated a stock buyback program on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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 Company 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.