Clarivate Plc (NYSE:CLVT) Shares Purchased by Skba Capital Management LLC

Skba Capital Management LLC boosted its position in shares of Clarivate Plc (NYSE:CLVT) by 343.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 57,680 shares of the company’s stock after acquiring an additional 44,680 shares during the period. Skba Capital Management LLC’s holdings in Clarivate were worth $293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC grew its position in shares of Clarivate by 17.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 241,425 shares of the company’s stock valued at $1,229,000 after acquiring an additional 36,493 shares during the period. Cove Street Capital LLC grew its holdings in Clarivate by 9.4% in the fourth quarter. Cove Street Capital LLC now owns 724,868 shares of the company’s stock valued at $3,681,000 after purchasing an additional 62,072 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Clarivate by 25.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 43,677 shares of the company’s stock valued at $222,000 after buying an additional 8,742 shares in the last quarter. Norges Bank acquired a new position in shares of Clarivate during the 4th quarter worth approximately $27,764,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Clarivate by 6.6% during the 4th quarter. JPMorgan Chase & Co. now owns 413,889 shares of the company’s stock valued at $2,103,000 after buying an additional 25,546 shares in the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

NYSE:CLVT opened at $3.97 on Monday. The stock has a 50 day moving average of $4.68 and a two-hundred day moving average of $5.41. Clarivate Plc has a 12 month low of $3.90 and a 12 month high of $7.77. The firm has a market cap of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28. 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 announced that its Board of Directors has approved a stock buyback program on Monday, December 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 12.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of Clarivate in a research note on Thursday, February 20th.

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.