Clarivate (NYSE:CLVT) Stock Price Up 5% – What’s Next?

Clarivate Plc (NYSE:CLVT) shares traded up 5% during trading on Wednesday . The stock traded as high as $4.49 and last traded at $4.53. 282,579 shares traded hands during trading, a decline of 95% from the average session volume of 5,643,958 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

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

Clarivate Price Performance

The firm has a market cap of $2.96 billion, a P/E ratio of -4.47 and a beta of 1.28. 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’s 50-day moving average is $4.81 and its two-hundred day moving average is $5.53.

Clarivate declared 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 shares. This repurchase authorization permits the company to purchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Clarivate

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after purchasing an additional 3,245 shares during the last quarter. RPO LLC acquired a new position in shares of Clarivate during the 4th quarter worth $55,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Clarivate during the 4th quarter worth $56,000. Kathmere Capital Management LLC acquired a new stake in Clarivate in the fourth quarter valued at about $58,000. Finally, Truist Financial Corp grew its position in Clarivate by 27.3% in the fourth quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 85.72% of the company’s stock.

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.