AGF Management Ltd. Invests $2.31 Million in Clarivate Plc (NYSE:CLVT)

AGF Management Ltd. purchased a new position in shares of Clarivate Plc (NYSE:CLVT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 453,946 shares of the company’s stock, valued at approximately $2,306,000. AGF Management Ltd. owned about 0.06% of Clarivate as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Clarivate during the fourth quarter worth about $19,172,000. Perpetual Ltd raised its stake in Clarivate by 24.6% during the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock worth $46,699,000 after acquiring an additional 1,816,936 shares during the period. Geode Capital Management LLC raised its stake in Clarivate by 8.6% during the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after acquiring an additional 571,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Clarivate by 112.9% during the third 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 acquiring an additional 551,838 shares during the period. Finally, FMR LLC raised its stake in Clarivate by 8.6% during the third quarter. FMR LLC now owns 5,088,942 shares of the company’s stock worth $36,131,000 after acquiring an additional 401,920 shares during the period. Institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

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

Clarivate Price Performance

Shares of NYSE:CLVT opened at $4.13 on Friday. The firm’s 50 day moving average is $4.87 and its two-hundred day moving average is $5.60. Clarivate Plc has a 52 week low of $3.96 and a 52 week high of $7.77. The firm has a market capitalization of $2.85 billion, a P/E ratio of -4.30 and a beta of 1.28. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88.

Clarivate announced that its Board of Directors has approved 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 reacquire up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.