Clarivate Plc (NYSE:CLVT) Shares Sold by FIL Ltd

FIL Ltd lessened its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,404,523 shares of the company's stock after selling 1,833,691 shares during the quarter. FIL Ltd owned 3.01% of Clarivate worth $108,735,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of Clarivate by 4.5% during the fourth quarter. Legal & General Group Plc now owns 353,419 shares of the company's stock worth $1,795,000 after purchasing an additional 15,201 shares during the last quarter. Aster Capital Management DIFC Ltd grew its position in Clarivate by 6,954.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 112,242 shares of the company's stock worth $570,000 after purchasing an additional 110,651 shares during the period. Clarkston Capital Partners LLC raised its stake in shares of Clarivate by 8.1% during the 4th 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 during the last quarter. RPO LLC purchased a new position in shares of Clarivate during the 4th quarter valued at about $55,000. Finally, Headlands Technologies LLC acquired a new position in shares of Clarivate in the 4th quarter valued at about $112,000. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Price Performance

Shares of Clarivate stock traded up $0.09 during trading hours on Monday, reaching $3.38. The stock had a trading volume of 506,513 shares, compared to its average volume of 5,116,492. 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 Plc has a twelve month low of $3.04 and a twelve month high of $7.31. The stock's 50 day moving average is $4.23 and its 200 day moving average is $5.15. The firm has a market capitalization of $2.33 billion, a PE ratio of -3.52 and a beta of 1.48.

Clarivate announced that its board has approved a share repurchase program on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.