Raymond James Financial Inc. Takes $19.17 Million Position in Clarivate Plc (NYSE:CLVT)

Raymond James Financial Inc. bought a new stake in shares of Clarivate Plc (NYSE:CLVT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,773,930 shares of the company's stock, valued at approximately $19,172,000. Raymond James Financial Inc. owned 0.53% of Clarivate as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Perpetual Ltd boosted its holdings in Clarivate by 24.6% in the 4th 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. Geode Capital Management LLC boosted its holdings in Clarivate by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company's stock worth $51,443,000 after buying an additional 571,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Clarivate by 112.9% in the 3rd 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 buying an additional 551,838 shares during the period. FMR LLC boosted its holdings in Clarivate by 8.6% in the 3rd quarter. FMR LLC now owns 5,088,942 shares of the company's stock worth $36,131,000 after buying an additional 401,920 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Clarivate by 15.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,340,416 shares of the company's stock worth $11,889,000 after buying an additional 309,239 shares during the period. 85.72% of the stock is owned by institutional investors.

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Clarivate Price Performance

NYSE:CLVT traded down $0.10 during trading hours on Thursday, hitting $4.30. The stock had a trading volume of 6,930,154 shares, compared to its average volume of 4,799,470. The company has a 50 day simple moving average of $4.82 and a two-hundred day simple moving average of $5.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. Clarivate Plc has a one year low of $3.96 and a one year high of $7.77. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -4.47 and a beta of 1.28.

Clarivate declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of Clarivate in a 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.