Charles Schwab Investment Management Inc. Sells 309,531 Shares of Clarivate Plc (NYSE:CLVT)

Charles Schwab Investment Management Inc. reduced its stake in shares of Clarivate Plc (NYSE:CLVT) by 6.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,294,918 shares of the company’s stock after selling 309,531 shares during the period. Charles Schwab Investment Management Inc. owned about 0.60% of Clarivate worth $21,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Perpetual Ltd grew its position in shares of Clarivate by 24.6% during the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after acquiring an additional 1,816,936 shares during the period. Geode Capital Management LLC lifted its stake in shares of Clarivate by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock valued at $51,443,000 after buying an additional 571,289 shares in the last quarter. FMR LLC lifted its stake in shares of Clarivate by 8.6% during the 3rd quarter. FMR LLC now owns 5,088,942 shares of the company’s stock valued at $36,131,000 after buying an additional 401,920 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Clarivate by 15.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,340,416 shares of the company’s stock valued at $11,889,000 after buying an additional 309,239 shares in the last quarter. Finally, Clearline Capital LP lifted its stake in Clarivate by 7.6% in the 3rd quarter. Clearline Capital LP now owns 2,247,322 shares of the company’s stock worth $15,956,000 after purchasing an additional 158,900 shares in the last quarter. 85.72% of the stock is owned by institutional investors.

Clarivate Stock Performance

Clarivate stock opened at $4.31 on Wednesday. The firm’s fifty day moving average price is $4.84 and its 200-day moving average price is $5.55. 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 has a market cap of $2.98 billion, a P/E ratio of -4.48 and a beta of 1.28. Clarivate Plc has a fifty-two week low of $3.96 and a fifty-two week high of $7.77.

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

Analyst Upgrades and Downgrades

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

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.