Clarivate (NYSE:CLVT) Shares Down 5.5% – Time to Sell?

Clarivate Plc (NYSE:CLVT)’s stock price traded down 5.5% during mid-day trading on Friday . The company traded as low as $4.09 and last traded at $4.05. 466,939 shares traded hands during trading, a decline of 90% from the average session volume of 4,779,508 shares. The stock had previously closed at $4.28.

Analyst Ratings Changes

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price target on shares of Clarivate in a research note on Thursday, February 20th.

Clarivate Stock Down 4.6 %

The business has a 50 day moving average of $4.81 and a 200-day moving average of $5.53. The stock has a market cap of $2.81 billion, a PE ratio of -4.24 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Clarivate declared that its board has initiated a share repurchase program on Monday, December 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Perpetual Ltd grew its stake in shares of Clarivate by 24.6% in the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after purchasing an additional 1,816,936 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Clarivate by 82.5% in the 3rd quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock valued at $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 grew its stake in shares of 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 valued at $7,387,000 after purchasing an additional 551,838 shares during the last quarter. Verition Fund Management LLC grew its stake 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 during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 3,245 shares during the last quarter. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

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.