Quantbot Technologies LP Acquires New Stake in Clarivate Plc (NYSE:CLVT)

Quantbot Technologies LP bought a new position in shares of Clarivate Plc (NYSE:CLVT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 181,369 shares of the company's stock, valued at approximately $921,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC raised its stake in shares of Clarivate by 14.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company's stock worth $53,333,000 after acquiring an additional 1,323,329 shares in the last quarter. Perpetual Ltd lifted its holdings in shares of 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 purchasing an additional 1,816,936 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Clarivate by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company's stock valued at $51,443,000 after acquiring an additional 571,289 shares during the last quarter. FMR LLC increased its stake in shares of Clarivate by 8.6% in the third quarter. FMR LLC now owns 5,088,942 shares of the company's stock worth $36,131,000 after acquiring an additional 401,920 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Clarivate by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company's stock worth $32,692,000 after acquiring an additional 38,355 shares during the period. Institutional investors own 85.72% of the company's stock.

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Analyst Ratings Changes

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

Clarivate Stock Performance

Shares of NYSE CLVT traded down $0.13 during midday trading on Friday, reaching $3.97. 4,171,491 shares of the stock were exchanged, compared to its average volume of 4,938,423. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of -4.13 and a beta of 1.28. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $5.41. Clarivate Plc has a twelve month low of $3.90 and a twelve month high of $7.77.

Clarivate announced that its Board of Directors has approved a stock repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.