Clarivate Plc (NYSE:CLVT) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its stake in Clarivate Plc (NYSE:CLVT - Free Report) by 39.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,974 shares of the company's stock after buying an additional 79,827 shares during the period. Illinois Municipal Retirement Fund's holdings in Clarivate were worth $1,427,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning bought a new position in Clarivate during the 3rd quarter worth approximately $142,000. KBC Group NV lifted its stake in Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company's stock worth $73,000 after purchasing an additional 2,549 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Clarivate by 2.3% in the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company's stock worth $900,000 after purchasing an additional 2,865 shares during the period. Empowered Funds LLC bought a new stake in Clarivate during the third quarter valued at $101,000. Finally, Integrated Investment Consultants LLC raised its holdings in shares of Clarivate by 2.9% during the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company's stock worth $686,000 after purchasing an additional 2,696 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, November 7th. William Blair downgraded Clarivate from an "outperform" rating to a "market perform" rating in a report on Wednesday, November 6th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 target price on shares of Clarivate in a research note on Thursday, February 20th.

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Clarivate Stock Performance

CLVT stock traded down $0.04 during trading on Wednesday, reaching $4.12. 9,151,825 shares of the company's stock were exchanged, compared to its average volume of 4,724,530. Clarivate Plc has a 1-year low of $4.01 and a 1-year high of $7.77. The firm has a market cap of $2.85 billion, a PE ratio of -4.29 and a beta of 1.17. The company's fifty day moving average price is $5.00 and its 200-day moving average price is $5.71. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88.

Clarivate declared that its board has approved a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Clarivate Company 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.