Truffle Hound Capital LLC Takes $914,000 Position in Clarivate Plc (NYSE:CLVT)

Truffle Hound Capital LLC bought a new position in Clarivate Plc (NYSE:CLVT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 180,000 shares of the company's stock, valued at approximately $914,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Perpetual Ltd increased its position in Clarivate by 24.6% during the 4th 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 in the last quarter. Cerity Partners LLC increased its holdings in Clarivate by 82.5% during the 3rd 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 increased its holdings in Clarivate by 112.9% during 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 purchasing an additional 551,838 shares during the last quarter. Verition Fund Management LLC raised its position in shares of Clarivate by 707.5% in the 3rd 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 in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Clarivate by 161.4% during the 4th 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 during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

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Clarivate Stock Performance

Shares of NYSE:CLVT traded down $0.08 on Wednesday, reaching $4.00. 5,951,758 shares of the company's stock were exchanged, compared to its average volume of 4,838,530. The business's 50-day moving average is $4.73 and its two-hundred day moving average is $5.45. 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 Plc has a fifty-two week low of $3.93 and a fifty-two week high of $7.77. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -4.17 and a beta of 1.28.

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 shares. This buyback authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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