Clarivate (NYSE:CLVT) Hits New 1-Year Low - Time to Sell?

Shares of Clarivate Plc (NYSE:CLVT - Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $3.09 and last traded at $3.13, with a volume of 248973 shares traded. The stock had previously closed at $3.40.

Analyst Upgrades and Downgrades

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

Clarivate Stock Up 2.7 %

The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $2.26 billion, a P/E ratio of -3.42 and a beta of 1.48. The stock has a 50 day moving average price of $4.23 and a 200 day moving average price of $5.16.

Clarivate declared that its board has approved a stock repurchase plan on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Hedge Funds Weigh In On Clarivate

Several large investors have recently modified their holdings of CLVT. GAMMA Investing LLC raised its position in Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock worth $27,000 after purchasing an additional 3,245 shares during the last quarter. RPO LLC bought a new position in shares of Clarivate during the fourth quarter worth about $55,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clarivate in the fourth quarter worth approximately $56,000. Kathmere Capital Management LLC bought a new stake in Clarivate in the fourth quarter valued at approximately $58,000. Finally, Truist Financial Corp increased its position in Clarivate by 27.3% during the 4th 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 during the period. Institutional investors own 85.72% of the company's stock.

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.