Clarivate (NYSE:CLVT) Reaches New 52-Week Low - Should You Sell?

Clarivate Plc (NYSE:CLVT - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.83 and last traded at $3.94, with a volume of 4158824 shares. The stock had previously closed at $3.97.

Analyst Upgrades and Downgrades

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

Clarivate Price Performance

The company's 50 day simple moving average is $4.53 and its 200 day simple moving average is $5.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The stock has a market cap of $2.34 billion, a P/E ratio of -3.54 and a beta of 1.48.

Clarivate announced that its board has approved a share buyback plan on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clarkston Capital Partners LLC lifted its stake in Clarivate by 8.1% in the fourth quarter. Clarkston Capital Partners LLC now owns 70,733,831 shares of the company's stock valued at $359,328,000 after buying an additional 5,319,535 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Clarivate by 53.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company's stock worth $141,107,000 after acquiring an additional 9,691,104 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in Clarivate by 14.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company's stock valued at $53,333,000 after acquiring an additional 1,323,329 shares in the last quarter. Perpetual Ltd boosted its stake in Clarivate by 24.6% in the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company's stock worth $46,699,000 after purchasing an additional 1,816,936 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Clarivate by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 8,750,858 shares of the company's stock worth $44,454,000 after purchasing an additional 538,907 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.