Clarivate (NYSE:CLVT) Reaches New 52-Week Low – What’s Next?

Clarivate Plc (NYSE:CLVT)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.92 and last traded at $3.99, with a volume of 953324 shares changing hands. The stock had previously closed at $4.08.

Wall Street Analyst Weigh In

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

Clarivate Price Performance

The stock has a market cap of $2.76 billion, a P/E ratio of -4.17 and a beta of 1.28. 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 firm has a 50-day moving average price of $4.75 and a 200-day moving average price of $5.46.

Clarivate announced that its Board of Directors has approved a share buyback plan on Monday, December 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 12.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Perpetual Ltd grew its holdings in Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock worth $46,699,000 after purchasing an additional 1,816,936 shares during the period. Cerity Partners LLC boosted its position in shares of Clarivate by 82.5% in the 3rd quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after purchasing an additional 91,384 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Clarivate by 112.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock worth $7,387,000 after buying an additional 551,838 shares during the last quarter. Verition Fund Management LLC increased its position in Clarivate by 707.5% during the 3rd quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock valued at $1,119,000 after buying an additional 138,031 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in 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 during the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.