Iridian Asset Management LLC CT Acquires 74,871 Shares of Clarivate Plc (NYSE:CLVT)

Iridian Asset Management LLC CT increased its stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,120,550 shares of the company's stock after purchasing an additional 74,871 shares during the quarter. Clarivate accounts for approximately 1.5% of Iridian Asset Management LLC CT's holdings, making the stock its 22nd biggest position. Iridian Asset Management LLC CT owned approximately 0.16% of Clarivate worth $5,692,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CLVT. Perpetual Ltd grew its position in Clarivate by 24.6% during the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company's stock worth $46,699,000 after buying an additional 1,816,936 shares during the period. Cerity Partners LLC raised its holdings in Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company's stock worth $1,436,000 after purchasing an additional 91,384 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Clarivate by 112.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company's stock worth $7,387,000 after purchasing an additional 551,838 shares in the last quarter. Verition Fund Management LLC grew its holdings in Clarivate by 707.5% in the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company's stock valued at $1,119,000 after purchasing an additional 138,031 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Clarivate by 161.4% in the fourth 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 in the last quarter. 85.72% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Clarivate

In related news, Director Michael J. Angelakis bought 765,000 shares of the business's stock in a transaction on Friday, November 22nd. The shares were bought at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares of the company's stock, valued at $17,983,350. This represents a 28.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.77% of the company's stock.

Clarivate Trading Down 0.3 %

CLVT stock traded down $0.02 during midday trading on Tuesday, reaching $4.90. 2,179,208 shares of the company's stock traded hands, compared to its average volume of 4,142,431. Clarivate Plc has a fifty-two week low of $4.25 and a fifty-two week high of $9.60. The business has a 50-day moving average price of $5.24 and a two-hundred day moving average price of $5.89. The company has a market capitalization of $3.48 billion, a P/E ratio of -2.46 and a beta of 1.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

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

Analysts Set New Price Targets

Several research firms have weighed in on CLVT. William Blair downgraded Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Barclays cut 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. Finally, Royal Bank of Canada lowered their target price on shares of Clarivate from $7.00 to $6.00 and set a "sector perform" rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.10.

Clarivate 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.