Clarivate (NYSE:CLVT) Reaches New 1-Year Low – Here’s Why

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 trading hands. The stock had previously closed at $4.08.

Analyst Ratings Changes

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

Clarivate Trading Down 1.8 %

The firm has a market cap of $2.76 billion, a P/E ratio of -4.17 and a beta of 1.28. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.87. The stock has a fifty day simple moving average of $4.75 and a 200 day simple moving average of $5.46.

Clarivate declared that its board has initiated a stock buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Clarivate

A number of institutional investors have recently made changes to their positions in CLVT. Clarkston Capital Partners LLC lifted its position in Clarivate by 8.1% during the fourth quarter. Clarkston Capital Partners LLC now owns 70,733,831 shares of the company’s stock valued at $359,328,000 after purchasing an additional 5,319,535 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Clarivate by 53.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,776,892 shares of the company’s stock valued at $141,107,000 after buying an additional 9,691,104 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Clarivate by 14.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company’s stock valued at $53,333,000 after buying an additional 1,323,329 shares during the period. Perpetual Ltd boosted 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 worth $46,699,000 after buying an additional 1,816,936 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Clarivate by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 8,750,858 shares of the company’s stock worth $44,454,000 after acquiring an additional 538,907 shares during the period. Hedge funds and other institutional investors own 85.72% of the company’s stock.

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.