River Road Asset Management LLC Sells 4,206,005 Shares of Clarivate Plc (NYSE:CLVT)

River Road Asset Management LLC lowered its position in shares of Clarivate Plc (NYSE:CLVT - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 588,990 shares of the company's stock after selling 4,206,005 shares during the period. River Road Asset Management LLC owned 0.08% of Clarivate worth $2,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Clarivate by 161.4% in the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company's stock valued at $27,000 after acquiring an additional 3,245 shares in the last quarter. Kathmere Capital Management LLC bought a new position in shares of Clarivate in the fourth quarter worth $58,000. Truist Financial Corp raised its stake in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company's stock valued at $71,000 after purchasing an additional 3,000 shares in the last quarter. KBC Group NV lifted its position 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 period. Finally, Pitcairn Co. acquired a new stake in Clarivate during the third quarter worth about $100,000. Institutional investors and hedge funds own 85.72% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Clarivate Stock Performance

NYSE:CLVT opened at $4.09 on Wednesday. Clarivate Plc has a twelve month low of $4.00 and a twelve month high of $7.77. 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 stock's 50-day simple moving average is $4.93 and its 200 day simple moving average is $5.64. The firm has a market capitalization of $2.83 billion, a PE ratio of -4.26 and a beta of 1.28.

Clarivate declared that its board has initiated a share buyback program on Monday, December 16th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 12.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors 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.

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