Clarivate Plc (NYSE:CLVT) Position Boosted by Cove Street Capital LLC

Cove Street Capital LLC raised its holdings in shares of Clarivate Plc (NYSE:CLVT) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 724,868 shares of the company’s stock after buying an additional 62,072 shares during the period. Clarivate comprises approximately 4.3% of Cove Street Capital LLC’s portfolio, making the stock its 5th largest position. Cove Street Capital LLC owned about 0.10% of Clarivate worth $3,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CLVT. GAMMA Investing LLC increased its stake in shares of Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after buying an additional 3,245 shares during the period. Kathmere Capital Management LLC bought a new stake in Clarivate in the 4th quarter worth $58,000. Truist Financial Corp increased its position in shares of 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 period. Fox Run Management L.L.C. bought a new position in shares of Clarivate during the fourth quarter valued at about $72,000. Finally, KBC Group NV boosted its holdings in shares of Clarivate by 77.2% during the fourth quarter. KBC Group NV now owns 18,115 shares of the company’s stock worth $92,000 after purchasing an additional 7,890 shares during the period. 85.72% of the stock is owned by institutional investors.

Clarivate Stock Down 3.1 %

Shares of Clarivate stock opened at $3.97 on Friday. The company’s fifty day simple moving average is $4.68 and its two-hundred day simple moving average is $5.42. Clarivate Plc has a 12-month low of $3.90 and a 12-month high of $7.77. The company has a current ratio of 0.87, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a market cap of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28.

Clarivate announced that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

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.