Clarivate (NYSE:CLVT) Reaches New 1-Year Low - Should You Sell?

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

Analyst Ratings Changes

Separately, Royal Bank of Canada reiterated 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 Down 7.9 %

The stock's 50 day simple moving average is $4.60 and its 200 day simple moving average is $5.36. The stock has a market capitalization of $2.53 billion, a P/E ratio of -3.83 and a beta of 1.28. 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 declared that its board has approved a share buyback program 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 programs are typically a sign that the company's board believes its shares are undervalued.

Institutional Trading of Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the company. Xponance Inc. increased its holdings in shares of 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. Truist Financial Corp lifted 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 during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Clarivate by 161.4% in the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after buying an additional 3,245 shares during the period. Deutsche Bank AG boosted its holdings in shares of Clarivate by 27.4% in the 4th quarter. Deutsche Bank AG now owns 26,217 shares of the company's stock valued at $133,000 after buying an additional 5,641 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in shares of Clarivate by 3.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company's stock valued at $1,149,000 after buying an additional 5,945 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

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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.