Arizona State Retirement System Acquires 7,983 Shares of Clarivate Plc (NYSE:CLVT)

Arizona State Retirement System grew its holdings in Clarivate Plc (NYSE:CLVT) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,570 shares of the company’s stock after purchasing an additional 7,983 shares during the quarter. Arizona State Retirement System’s holdings in Clarivate were worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. GAMMA Investing LLC grew 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 buying an additional 3,245 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Clarivate during the 4th quarter worth about $58,000. Truist Financial Corp grew its stake 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 buying an additional 3,000 shares during the period. KBC Group NV increased its position in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares in the last quarter. Finally, Pitcairn Co. acquired a new position in Clarivate during the 3rd quarter worth approximately $100,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Up 3.4 %

Shares of NYSE CLVT opened at $4.13 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. The company has a 50-day moving average price of $4.87 and a 200-day moving average price of $5.60. The stock has a market capitalization of $2.85 billion, a P/E ratio of -4.30 and a beta of 1.28. Clarivate Plc has a 1 year low of $3.96 and a 1 year high of $7.77.

Clarivate announced that its Board of Directors has approved a stock repurchase program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of Clarivate in a report on Thursday, February 20th.

Clarivate 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.