CenterBook Partners LP Sells 418,874 Shares of Clarivate Plc (NYSE:CLVT)

CenterBook Partners LP trimmed its stake in Clarivate Plc (NYSE:CLVT - Free Report) by 23.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,390,708 shares of the company's stock after selling 418,874 shares during the period. CenterBook Partners LP owned 0.20% of Clarivate worth $7,065,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CLVT. GAMMA Investing LLC increased its position in Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock worth $27,000 after buying an additional 3,245 shares in the last quarter. RPO LLC purchased a new stake in Clarivate in the 4th quarter worth approximately $55,000. Kathmere Capital Management LLC bought a new stake in Clarivate during the 4th quarter worth approximately $58,000. Truist Financial Corp lifted its holdings in Clarivate by 27.3% during the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company's stock valued at $71,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Clarivate in the fourth quarter worth approximately $72,000. 85.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price objective on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate Price Performance

NYSE CLVT traded up $0.07 during trading hours on Monday, reaching $3.36. The company's stock had a trading volume of 1,189,098 shares, compared to its average volume of 5,119,344. Clarivate Plc has a 1 year low of $3.04 and a 1 year high of $7.31. 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 company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -3.50 and a beta of 1.48. The firm's 50-day moving average price is $4.23 and its 200-day moving average price is $5.15.

Clarivate declared that its Board of Directors has authorized a share buyback program on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 12.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.