Clarivate Plc (NYSE:CLVT) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 175.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,061,276 shares of the company's stock after purchasing an additional 3,224,278 shares during the quarter. American Century Companies Inc. owned about 0.71% of Clarivate worth $25,711,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CLVT. GAMMA Investing LLC boosted its position in Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock worth $27,000 after purchasing an additional 3,245 shares in the last quarter. Kathmere Capital Management LLC acquired a new position in shares of Clarivate during the 4th quarter worth $58,000. Truist Financial Corp boosted its position in shares of Clarivate by 27.3% in the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company's stock worth $71,000 after buying an additional 3,000 shares in the last quarter. KBC Group NV grew its stake in Clarivate by 77.2% in the 4th 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 last quarter. Finally, Xponance Inc. grew 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 last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Wall Street Analyst Weigh In

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

Remove Ads

Clarivate Price Performance

Shares of NYSE CLVT traded down $0.22 during trading on Thursday, reaching $3.78. The company had a trading volume of 795,918 shares, compared to its average volume of 4,934,559. 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 twelve month low of $3.73 and a twelve month high of $7.77. The stock has a 50-day moving average price of $4.60 and a two-hundred day moving average price of $5.36. The stock has a market capitalization of $2.60 billion, a PE ratio of -3.93 and a beta of 1.28.

Clarivate announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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.