HighTower Advisors LLC Has $911,000 Stock Holdings in Clarivate Plc (NYSE:CLVT)

HighTower Advisors LLC lowered its holdings in shares of Clarivate Plc (NYSE:CLVT) by 2.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 179,402 shares of the company’s stock after selling 4,191 shares during the period. HighTower Advisors LLC’s holdings in Clarivate were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CLVT. Charles Schwab Investment Management Inc. increased its position in Clarivate by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,604,449 shares of the company’s stock worth $32,692,000 after purchasing an additional 38,355 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after buying an additional 91,384 shares during the last quarter. Pitcairn Co. acquired a new position in shares of Clarivate during the third quarter worth $100,000. D.A. Davidson & CO. bought a new position in shares of Clarivate in the 3rd quarter valued at $159,000. Finally, FMR LLC boosted its holdings in shares of Clarivate by 8.6% during the 3rd quarter. FMR LLC now owns 5,088,942 shares of the company’s stock valued at $36,131,000 after acquiring an additional 401,920 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

Clarivate Trading Up 2.6 %

NYSE CLVT opened at $4.10 on Friday. 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 firm has a market capitalization of $2.82 billion, a PE ratio of -4.27 and a beta of 1.28. The business’s 50-day moving average price is $4.71 and its two-hundred day moving average price is $5.44.

Clarivate announced that its Board of Directors has approved a share buyback plan on Monday, December 16th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 12.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is 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 report on Thursday, February 20th.

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.