Truist Financial Corp Has $71,000 Stock Position in Clarivate Plc (NYSE:CLVT)

Truist Financial Corp raised its position in Clarivate Plc (NYSE:CLVT) by 27.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Truist Financial Corp’s holdings in Clarivate were worth $71,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in shares of Clarivate in the 3rd quarter worth approximately $142,000. KBC Group NV raised its holdings in shares of Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after buying an additional 2,549 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in shares of Clarivate by 2.3% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after buying an additional 2,865 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Clarivate in the 3rd quarter worth approximately $101,000. Finally, Integrated Investment Consultants LLC raised its holdings in shares of Clarivate by 2.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock worth $686,000 after buying an additional 2,696 shares in the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analysts Set New Price Targets

Separately, 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.

Clarivate Stock Up 3.7 %

NYSE CLVT opened at $4.36 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of -4.54 and a beta of 1.28. Clarivate Plc has a one year low of $4.00 and a one year high of $7.77. The stock’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $5.70. 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 announced that its board has approved a share buyback program on Monday, December 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 12.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors 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.