AGF Management Ltd. Purchases New Stake in Clarivate Plc (NYSE:CLVT)

AGF Management Ltd. bought a new position in shares of Clarivate Plc (NYSE:CLVT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 453,946 shares of the company's stock, valued at approximately $2,306,000. AGF Management Ltd. owned approximately 0.06% of Clarivate at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLVT. GAMMA Investing LLC grew its position in shares of Clarivate by 161.4% in the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after buying an additional 3,245 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Clarivate during the 4th quarter worth approximately $58,000. Truist Financial Corp lifted its stake 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 buying an additional 3,000 shares during the last quarter. KBC Group NV grew its position in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company's stock worth $73,000 after acquiring an additional 2,549 shares during the last quarter. Finally, Pitcairn Co. acquired a new position in shares of Clarivate in the 3rd quarter valued at $100,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.09 during mid-day trading on Wednesday, hitting $4.40. 4,542,945 shares of the company were exchanged, compared to its average volume of 4,799,062. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of -4.58 and a beta of 1.28. The stock has a 50 day simple moving average of $4.84 and a 200-day simple moving average of $5.55. Clarivate Plc has a 1-year low of $3.96 and a 1-year high of $7.77.

Remove Ads

Clarivate declared that its board has initiated a stock repurchase program on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback programs are typically 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 report on Thursday, February 20th.

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.