GAMMA Investing LLC Has $27,000 Stock Position in Clarivate Plc (NYSE:CLVT)

GAMMA Investing LLC raised its holdings in shares of Clarivate Plc (NYSE:CLVT) by 161.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,256 shares of the company’s stock after buying an additional 3,245 shares during the quarter. GAMMA Investing LLC’s holdings in Clarivate were worth $27,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CLVT. Arizona State Retirement System increased its stake in Clarivate by 2.5% during the second quarter. Arizona State Retirement System now owns 84,172 shares of the company’s stock valued at $479,000 after acquiring an additional 2,064 shares during the period. Headlands Technologies LLC raised its stake in shares of Clarivate by 749.2% in the 2nd quarter. Headlands Technologies LLC now owns 14,632 shares of the company’s stock valued at $83,000 after buying an additional 12,909 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Clarivate by 27.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 344,577 shares of the company’s stock worth $1,961,000 after acquiring an additional 74,412 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Clarivate by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its position in shares of Clarivate by 800.8% during the 2nd quarter. Edgestream Partners L.P. now owns 650,660 shares of the company’s stock valued at $3,702,000 after acquiring an additional 578,430 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Performance

NYSE CLVT opened at $5.07 on Wednesday. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of -2.55 and a beta of 1.14. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate Plc has a 1-year low of $4.25 and a 1-year high of $9.60. The company has a 50 day moving average of $5.16 and a 200-day moving average of $5.99.

Clarivate (NYSE:CLVT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million during the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, equities analysts forecast that Clarivate Plc will post 0.63 earnings per share for the current fiscal year.

Clarivate announced that its board has authorized a share repurchase program on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Clarivate

In other news, Director Michael J. Angelakis acquired 765,000 shares of Clarivate stock in a transaction on Friday, November 22nd. The shares were purchased at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the acquisition, the director now owns 3,465,000 shares in the company, valued at $17,983,350. This represents a 28.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on CLVT shares. William Blair cut shares of Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Barclays decreased their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.10.

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.