106,400 Shares in Clarivate Plc (NYSE:CLVT) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC acquired a new stake in Clarivate Plc (NYSE:CLVT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 106,400 shares of the company’s stock, valued at approximately $541,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 3,245 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in shares of Clarivate during the fourth quarter valued at approximately $58,000. Truist Financial Corp grew its holdings in Clarivate by 27.3% during the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after buying an additional 3,000 shares in the last quarter. KBC Group NV raised its position in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares during the last quarter. Finally, Pitcairn Co. bought a new position in Clarivate during the 3rd quarter valued at $100,000. Institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Barclays decreased their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.10.

Clarivate Stock Up 0.1 %

CLVT opened at $4.85 on Monday. Clarivate Plc has a twelve month low of $4.22 and a twelve month high of $9.07. The company’s 50-day moving average price is $5.12 and its two-hundred day moving average price is $5.80. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -5.05 and a beta of 1.17. 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 announced that its board has initiated a stock repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 12.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.