Clarivate (NYSE:CLVT) Hits New 12-Month Low – Time to Sell?

Clarivate Plc (NYSE:CLVT)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.99 and last traded at $4.00, with a volume of 201524 shares traded. The stock had previously closed at $4.07.

Analyst Ratings Changes

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

Clarivate Price Performance

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 stock’s fifty day simple moving average is $4.91 and its 200-day simple moving average is $5.63. The company has a market capitalization of $2.76 billion, a P/E ratio of -4.16 and a beta of 1.28.

Clarivate announced that its board has initiated a share buyback plan on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Clarivate

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 3,245 shares during the period. KBC Group NV boosted its holdings in Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after acquiring an additional 2,549 shares during the period. RPO LLC bought a new stake in Clarivate during the fourth quarter valued at about $55,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Clarivate in the fourth quarter valued at about $56,000. Finally, Kathmere Capital Management LLC bought a new stake in shares of Clarivate in the fourth quarter valued at about $58,000. 85.72% of the stock is currently owned by institutional investors.

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.