Clarivate (NYSE:CLVT) Sets New 12-Month Low – What’s Next?

Shares of Clarivate Plc (NYSE:CLVT) hit a new 52-week low during trading on Wednesday . The stock traded as low as $3.92 and last traded at $3.99, with a volume of 953324 shares. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

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

Clarivate Trading Down 3.1 %

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 company has a market capitalization of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28. The business has a fifty day moving average price of $4.71 and a 200 day moving average price of $5.44.

Clarivate declared that its board has authorized a share repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire 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.

Institutional Investors Weigh In On Clarivate

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of Clarivate by 161.4% in the fourth 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 during the last quarter. RPO LLC acquired a new position in Clarivate during the fourth quarter valued at approximately $55,000. Schonfeld Strategic Advisors LLC bought a new position in Clarivate in the fourth quarter valued at approximately $56,000. Kathmere Capital Management LLC acquired a new position in shares of Clarivate during the 4th quarter worth approximately $58,000. Finally, Truist Financial Corp raised its stake in shares of Clarivate by 27.3% during the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after purchasing an additional 3,000 shares in the last quarter. 85.72% of the stock is owned by institutional investors.

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.