IFP Advisors Inc Acquires 20,372 Shares of Clarivate Plc (NYSE:CLVT)

IFP Advisors Inc increased its holdings in shares of Clarivate Plc (NYSE:CLVT) by 11,132.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,555 shares of the company’s stock after acquiring an additional 20,372 shares during the quarter. IFP Advisors Inc’s holdings in Clarivate were worth $106,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC increased its position in Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after acquiring an additional 3,245 shares during the period. KBC Group NV increased its position in Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after acquiring an additional 2,549 shares during the period. Kathmere Capital Management LLC bought a new position in Clarivate during the fourth quarter worth about $58,000. Truist Financial Corp increased its position in Clarivate by 27.3% during the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the period. Finally, Pitcairn Co. bought a new position in Clarivate in the 3rd quarter valued at about $100,000. 85.72% of the stock is owned by institutional investors.

Clarivate Trading Down 1.1 %

Shares of Clarivate stock opened at $4.17 on Wednesday. The firm has a market capitalization of $2.88 billion, a PE ratio of -4.34 and a beta of 1.17. 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’s 50 day moving average is $5.02 and its 200 day moving average is $5.72. Clarivate Plc has a 1 year low of $4.11 and a 1 year high of $7.77.

Clarivate announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 12.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CLVT has been the topic of several recent analyst reports. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of Clarivate in a report on Thursday, February 20th. Finally, Barclays decreased their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th.

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.