Raymond James Financial Inc. Makes New Investment in Clarivate Plc (NYSE:CLVT)

Raymond James Financial Inc. bought a new position in shares of Clarivate Plc (NYSE:CLVT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,773,930 shares of the company’s stock, valued at approximately $19,172,000. Raymond James Financial Inc. owned approximately 0.53% of Clarivate at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLVT. KBC Group NV lifted its holdings 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 in the last quarter. OneDigital Investment Advisors LLC raised its stake 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 valued at $900,000 after purchasing an additional 2,865 shares during the period. Empowered Funds LLC acquired a new stake in shares of Clarivate in the 3rd quarter valued at about $101,000. Integrated Investment Consultants LLC raised its stake 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 valued at $686,000 after purchasing an additional 2,696 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Clarivate by 0.8% in 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 during the period. 85.72% of the stock is currently owned by institutional investors.

Clarivate Price Performance

NYSE:CLVT opened at $4.13 on Monday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.87. The stock’s 50-day simple moving average is $4.87 and its 200 day simple moving average is $5.59. The company has a market cap of $2.85 billion, a P/E ratio of -4.30 and a beta of 1.28. Clarivate Plc has a 52-week low of $3.96 and a 52-week high of $7.77.

Clarivate announced that its board has initiated a share repurchase plan on Monday, December 16th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 12.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued 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.