Thompson Siegel & Walmsley LLC Increases Stock Position in Clarivate Plc (NYSE:CLVT)

Thompson Siegel & Walmsley LLC increased its position in Clarivate Plc (NYSE:CLVT) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,498,588 shares of the company’s stock after acquiring an additional 1,323,329 shares during the period. Thompson Siegel & Walmsley LLC owned about 1.48% of Clarivate worth $53,333,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake 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 buying an additional 3,245 shares during the last quarter. KBC Group NV raised its stake 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 buying an additional 2,549 shares during the last quarter. Kathmere Capital Management LLC purchased a new stake in Clarivate during the 4th quarter valued at $58,000. Truist Financial Corp raised its stake 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 buying an additional 3,000 shares during the last quarter. Finally, Pitcairn Co. purchased a new stake in Clarivate during the 3rd quarter valued at $100,000. 85.72% of the stock is currently owned by hedge funds and other institutional investors.

Clarivate Trading Down 1.1 %

Shares of CLVT stock opened at $4.03 on Thursday. Clarivate Plc has a 1 year low of $3.96 and a 1 year high of $7.77. The firm has a fifty day moving average price of $4.91 and a 200-day moving average price of $5.63. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.87 and a quick ratio of 0.88. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -4.19 and a beta of 1.28.

Clarivate announced that its Board of Directors has initiated a share repurchase plan on Monday, December 16th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 12.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of Clarivate in a research note 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.