Quantbot Technologies LP Acquires New Stake in Clarivate Plc (NYSE:CLVT)

Quantbot Technologies LP bought a new position in shares of Clarivate Plc (NYSE:CLVT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 181,369 shares of the company’s stock, valued at approximately $921,000.

A number of other institutional investors have also added to or reduced their stakes in CLVT. Thompson Siegel & Walmsley LLC grew its holdings in shares of Clarivate by 14.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company’s stock worth $53,333,000 after purchasing an additional 1,323,329 shares in the last quarter. Perpetual Ltd lifted its position in Clarivate by 24.6% during the fourth 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. Geode Capital Management LLC grew its stake in Clarivate by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after buying an additional 571,289 shares in the last quarter. FMR LLC increased its holdings in shares of Clarivate by 8.6% in the 3rd quarter. FMR LLC now owns 5,088,942 shares of the company’s stock worth $36,131,000 after buying an additional 401,920 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Clarivate by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company’s stock valued at $32,692,000 after buying an additional 38,355 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Clarivate Stock Performance

NYSE:CLVT opened at $4.00 on Thursday. Clarivate Plc has a 1-year low of $3.92 and a 1-year high of $7.77. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The business has a 50 day moving average of $4.73 and a 200 day moving average of $5.45. The company 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 allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Clarivate 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.