River Road Asset Management LLC Sells 4,206,005 Shares of Clarivate Plc (NYSE:CLVT)

River Road Asset Management LLC lessened its position in Clarivate Plc (NYSE:CLVT) by 87.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 588,990 shares of the company’s stock after selling 4,206,005 shares during the quarter. River Road Asset Management LLC’s holdings in Clarivate were worth $2,992,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CLVT. Creative Planning acquired a new position in shares of Clarivate in the third quarter valued at approximately $142,000. KBC Group NV lifted its stake in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after buying an additional 2,549 shares during the period. OneDigital Investment Advisors LLC boosted its stake in Clarivate by 2.3% during the third quarter. OneDigital Investment Advisors LLC now owns 126,773 shares of the company’s stock worth $900,000 after acquiring an additional 2,865 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Clarivate during the 3rd quarter worth about $101,000. Finally, Integrated Investment Consultants LLC grew its stake in Clarivate by 2.9% in the third quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after acquiring an additional 2,696 shares during the period. 85.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, 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 5.7 %

NYSE:CLVT opened at $4.09 on Wednesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. Clarivate Plc has a one year low of $4.00 and a one year high of $7.77. The company has a market cap of $2.83 billion, a PE ratio of -4.26 and a beta of 1.28. The firm has a 50-day moving average of $4.93 and a 200-day moving average of $5.64.

Clarivate announced that its Board of Directors has approved a stock repurchase program on Monday, December 16th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 12.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.