Clarivate Plc (NYSE:CLVT) Stake Cut by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its holdings in shares of Clarivate Plc (NYSE:CLVT) by 66.5% during the fourth quarter, Holdings Channel reports. The firm owned 13,882 shares of the company’s stock after selling 27,530 shares during the quarter. Corient Private Wealth LLC’s holdings in Clarivate were worth $71,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CLVT. Truist Financial Corp lifted its holdings in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock worth $71,000 after acquiring an additional 3,000 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Clarivate by 161.4% during the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after purchasing an additional 3,245 shares during the period. SkyView Investment Advisors LLC lifted its holdings in shares of Clarivate by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock worth $1,149,000 after purchasing an additional 5,945 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Clarivate by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 78,006 shares of the company’s stock valued at $554,000 after purchasing an additional 7,014 shares during the period. Finally, KBC Group NV boosted its position in Clarivate by 77.2% during the 4th quarter. KBC Group NV now owns 18,115 shares of the company’s stock valued at $92,000 after purchasing an additional 7,890 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Price Performance

NYSE CLVT opened at $3.99 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Clarivate Plc has a 1 year low of $3.83 and a 1 year high of $7.77. The company has a market cap of $2.75 billion, a PE ratio of -4.16 and a beta of 1.28. The stock’s 50-day moving average price is $4.60 and its two-hundred day moving average price is $5.36.

Clarivate announced that its board has authorized a share buyback program on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 12.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

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.

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.