Charles Schwab Investment Management Inc. Sells 309,531 Shares of Clarivate Plc (NYSE:CLVT)

Charles Schwab Investment Management Inc. decreased its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,294,918 shares of the company's stock after selling 309,531 shares during the period. Charles Schwab Investment Management Inc. owned about 0.60% of Clarivate worth $21,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of 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 buying an additional 3,245 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Clarivate in the fourth quarter valued at approximately $58,000. Truist Financial Corp increased its holdings in shares of 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 purchasing an additional 3,000 shares in the last quarter. KBC Group NV increased its holdings in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company's stock valued at $73,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Pitcairn Co. acquired a new stake in shares of Clarivate in the third quarter valued at approximately $100,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Analyst Ratings Changes

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

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Clarivate Trading Down 4.1 %

CLVT stock traded down $0.18 during midday trading on Friday, reaching $4.11. The company's stock had a trading volume of 7,236,487 shares, compared to its average volume of 4,811,599. Clarivate Plc has a 52 week low of $3.96 and a 52 week high of $7.77. The stock has a market cap of $2.83 billion, a PE ratio of -4.28 and a beta of 1.28. 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 business's 50-day simple moving average is $4.79 and its 200-day simple moving average is $5.51.

Clarivate declared that its Board of Directors has initiated a share repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans 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.