Aster Capital Management DIFC Ltd Boosts Stock Holdings in Clarivate Plc (NYSE:CLVT)

Aster Capital Management DIFC Ltd increased its position in Clarivate Plc (NYSE:CLVT) by 6,954.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,242 shares of the company’s stock after acquiring an additional 110,651 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Clarivate were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Clarivate by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,006 shares of the company’s stock valued at $554,000 after acquiring an additional 7,014 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Clarivate by 112.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock worth $7,387,000 after acquiring an additional 551,838 shares during the period. Verition Fund Management LLC lifted its position in Clarivate by 707.5% during the third quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock valued at $1,119,000 after purchasing an additional 138,031 shares during the period. Finally, XTX Topco Ltd boosted its holdings in Clarivate by 22.7% in the third quarter. XTX Topco Ltd now owns 53,674 shares of the company’s stock worth $381,000 after purchasing an additional 9,934 shares during the last quarter. 85.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Clarivate Stock Performance

Shares of NYSE CLVT opened at $3.40 on Monday. Clarivate Plc has a 12-month low of $3.37 and a 12-month high of $7.67. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -3.54 and a beta of 1.48. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The firm has a 50 day moving average of $4.53 and a 200 day moving average of $5.31.

Clarivate announced that its board has approved a stock repurchase program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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.