Illinois Municipal Retirement Fund Boosts Stock Position in Clarivate Plc (NYSE:CLVT)

Illinois Municipal Retirement Fund boosted its holdings in shares of Clarivate Plc (NYSE:CLVT) by 39.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,974 shares of the company’s stock after acquiring an additional 79,827 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Clarivate were worth $1,427,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CLVT. GAMMA Investing LLC boosted its holdings in Clarivate by 161.4% during the 4th 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. Kathmere Capital Management LLC purchased a new position in Clarivate during the 4th quarter valued at $58,000. Truist Financial Corp raised its position in Clarivate by 27.3% during the 4th quarter. Truist Financial Corp now owns 14,000 shares of the company’s stock valued at $71,000 after purchasing an additional 3,000 shares in the last quarter. KBC Group NV raised its position in Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares in the last quarter. Finally, Pitcairn Co. bought a new stake in Clarivate during the 3rd quarter valued at $100,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CLVT. Barclays decreased their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research report on Thursday, February 20th.

Clarivate Trading Down 1.9 %

CLVT opened at $4.31 on Friday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -4.48 and a beta of 1.17. 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 Plc has a 12 month low of $4.22 and a 12 month high of $7.77. The stock has a fifty day moving average price of $5.05 and a 200-day moving average price of $5.76.

Clarivate declared that its board has approved a stock buyback program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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.