Headlands Technologies LLC Invests $112,000 in Clarivate Plc (NYSE:CLVT)

Headlands Technologies LLC purchased a new stake in Clarivate Plc (NYSE:CLVT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 21,969 shares of the company’s stock, valued at approximately $112,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC lifted its position in 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 purchasing an additional 1,323,329 shares during the period. Perpetual Ltd lifted its holdings in Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after buying an additional 1,816,936 shares during the period. Vanguard Group Inc. boosted its stake in Clarivate by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 8,750,858 shares of the company’s stock valued at $44,454,000 after acquiring an additional 538,907 shares during the last quarter. Geode Capital Management LLC grew its holdings in Clarivate by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after acquiring an additional 571,289 shares during the period. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Clarivate by 33.6% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 6,492,760 shares of the company’s stock valued at $32,983,000 after acquiring an additional 1,632,930 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Clarivate Stock Performance

Shares of CLVT stock opened at $3.40 on Monday. The stock has a 50-day moving average of $4.53 and a 200-day moving average of $5.31. Clarivate Plc has a one year low of $3.37 and a one year high of $7.67. The stock has a market cap of $2.34 billion, a PE ratio of -3.54 and a beta of 1.48. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88.

Clarivate declared that its Board of Directors has authorized 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 repurchase up to 12.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is 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.