Clarkston Capital Partners LLC Has $359.33 Million Holdings in Clarivate Plc (NYSE:CLVT)

Clarkston Capital Partners LLC grew its stake in shares of Clarivate Plc (NYSE:CLVT) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,733,831 shares of the company’s stock after buying an additional 5,319,535 shares during the quarter. Clarivate makes up 6.9% of Clarkston Capital Partners LLC’s holdings, making the stock its 2nd biggest holding. Clarkston Capital Partners LLC owned approximately 9.96% of Clarivate worth $359,328,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Clarivate by 161.4% in the 4th 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 during the last quarter. RPO LLC acquired a new position in shares of Clarivate during the fourth quarter worth $55,000. Kathmere Capital Management LLC bought a new stake in shares of Clarivate in the fourth quarter worth $58,000. Truist Financial Corp increased its holdings in Clarivate by 27.3% in the fourth 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. Finally, Fox Run Management L.L.C. acquired a new position in Clarivate during the 4th quarter worth about $72,000. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Price Performance

Shares of NYSE CLVT opened at $3.40 on Friday. The company has a market capitalization of $2.34 billion, a PE ratio of -3.54 and a beta of 1.48. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. Clarivate Plc has a twelve month low of $3.37 and a twelve month high of $7.67. The firm has a fifty day simple moving average of $4.53 and a 200 day simple moving average of $5.32.

Clarivate declared that its Board of Directors has initiated a share repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

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.

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.