Brown Brothers Harriman & Co. Sells 713,474 Shares of Clarivate Plc (NYSE:CLVT)

Brown Brothers Harriman & Co. lessened its holdings in Clarivate Plc (NYSE:CLVT) by 11.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,535,980 shares of the company’s stock after selling 713,474 shares during the quarter. Brown Brothers Harriman & Co. owned 0.78% of Clarivate worth $28,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Clarivate in the fourth quarter worth about $27,764,000. Raymond James Financial Inc. bought a new position in Clarivate during the 4th quarter worth approximately $19,172,000. American Century Companies Inc. increased its stake in Clarivate by 175.5% in the 4th quarter. American Century Companies Inc. now owns 5,061,276 shares of the company’s stock worth $25,711,000 after purchasing an additional 3,224,278 shares during the period. Perpetual Ltd lifted its position in Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after purchasing an additional 1,816,936 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of Clarivate by 14.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 10,498,588 shares of the company’s stock valued at $53,333,000 after purchasing an additional 1,323,329 shares during the period. 85.72% of the stock is owned by institutional investors.

Clarivate Trading Down 3.1 %

NYSE CLVT opened at $3.97 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.87. Clarivate Plc has a fifty-two week low of $3.90 and a fifty-two week high of $7.77. The stock has a market cap of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28. The stock has a 50 day simple moving average of $4.68 and a two-hundred day simple moving average of $5.42.

Clarivate declared that its Board of Directors has initiated a share buyback plan on Monday, December 16th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.