KLP Kapitalforvaltning AS Purchases New Holdings in Clarivate Plc (NYSE:CLVT)

KLP Kapitalforvaltning AS acquired a new position in shares of Clarivate Plc (NYSE:CLVT) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 65,200 shares of the company’s stock, valued at approximately $331,000.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in shares of Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after buying an additional 3,245 shares in the last quarter. Kathmere Capital Management LLC purchased a new position in Clarivate during the 4th quarter valued at about $58,000. Truist Financial Corp increased its holdings in shares of Clarivate by 27.3% in the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares during the period. KBC Group NV lifted its position in shares of Clarivate by 77.2% in the fourth quarter. KBC Group NV now owns 18,115 shares of the company’s stock worth $92,000 after purchasing an additional 7,890 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Clarivate by 17.3% during the fourth quarter. Xponance Inc. now owns 18,222 shares of the company’s stock worth $93,000 after purchasing an additional 2,689 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Clarivate Stock Performance

Shares of NYSE CLVT opened at $3.40 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. Clarivate Plc has a one year low of $3.37 and a one year high of $7.67. The business’s 50-day moving average price is $4.53 and its two-hundred day moving average price is $5.32. The company has a market capitalization of $2.34 billion, a P/E ratio of -3.54 and a beta of 1.48.

Clarivate declared that its board has approved a share repurchase program on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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.