Clarivate Plc (NYSE:CLVT) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in shares of Clarivate Plc (NYSE:CLVT) by 39.4% during the fourth quarter, Holdings Channel reports. The fund owned 205,992 shares of the company’s stock after selling 133,736 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Clarivate were worth $1,046,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Perpetual Ltd boosted its stake in shares of Clarivate by 24.6% during the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after acquiring an additional 1,816,936 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock valued at $1,436,000 after acquiring an additional 91,384 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 boosted its stake in Clarivate by 707.5% in the 3rd quarter. Verition Fund Management LLC now owns 157,540 shares of the company’s stock worth $1,119,000 after buying an additional 138,031 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Clarivate by 161.4% in 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 last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

Analyst Upgrades and Downgrades

CLVT has been the topic of a number of research analyst reports. 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. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Barclays decreased their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th.

Clarivate Stock Performance

NYSE CLVT opened at $4.17 on Wednesday. The firm has a market capitalization of $2.88 billion, a P/E ratio of -4.34 and a beta of 1.17. Clarivate Plc has a 1-year low of $4.11 and a 1-year high of $7.77. 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 business’s 50-day simple moving average is $5.02 and its 200-day simple moving average is $5.72.

Clarivate declared that its board has authorized a stock repurchase plan on Monday, December 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.