M&T Bank Corp Sells 2,839 Shares of Clarivate Plc (NYSE:CLVT)

M&T Bank Corp lowered its stake in Clarivate Plc (NYSE:CLVT) by 18.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,763 shares of the company’s stock after selling 2,839 shares during the quarter. M&T Bank Corp’s holdings in Clarivate were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. KBC Group NV increased its stake in Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in Clarivate by 2.3% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock valued at $900,000 after purchasing an additional 2,865 shares in the last quarter. Empowered Funds LLC bought a new stake in Clarivate during the 3rd quarter valued at $101,000. Integrated Investment Consultants LLC increased its stake in Clarivate by 2.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after purchasing an additional 2,696 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Clarivate by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company’s stock valued at $32,692,000 after purchasing an additional 38,355 shares in the last quarter. Institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

CLVT opened at $4.13 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -4.30 and a beta of 1.28. The firm’s fifty day moving average price is $4.87 and its two-hundred day moving average price is $5.59. Clarivate Plc has a 1 year low of $3.96 and a 1 year high of $7.77.

Clarivate declared that its board has initiated a share buyback 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 often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.