Advantage Alpha Capital Partners LP Lowers Stock Position in Clarivate Plc (NYSE:CLVT)

Advantage Alpha Capital Partners LP cut its stake in Clarivate Plc (NYSE:CLVT - Free Report) by 49.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 386,707 shares of the company's stock after selling 372,464 shares during the period. Advantage Alpha Capital Partners LP owned 0.05% of Clarivate worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC raised its stake in Clarivate by 14.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company's stock worth $53,333,000 after acquiring an additional 1,323,329 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company's stock valued at $46,699,000 after purchasing an additional 1,816,936 shares during the period. Vanguard Group Inc. raised its stake in shares of Clarivate by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 8,750,858 shares of the company's stock worth $44,454,000 after purchasing an additional 538,907 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Clarivate by 8.6% during the third 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 period. Finally, FMR LLC boosted its position in Clarivate by 8.6% in the third quarter. FMR LLC now owns 5,088,942 shares of the company's stock valued at $36,131,000 after buying an additional 401,920 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Remove Ads

Clarivate Stock Performance

Shares of NYSE CLVT traded down $0.13 during trading on Friday, reaching $3.97. 4,171,491 shares of the company traded hands, compared to its average volume of 4,938,423. The stock has a market cap of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28. The firm's fifty day simple moving average is $4.68 and its 200 day simple moving average is $5.42. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Clarivate Plc has a 12-month low of $3.90 and a 12-month high of $7.77.

Clarivate declared that its Board of Directors has initiated a share buyback plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price target 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.