Wolverine Asset Management LLC Takes $541,000 Position in Clarivate Plc (NYSE:CLVT)

Wolverine Asset Management LLC acquired a new position in Clarivate Plc (NYSE:CLVT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 106,400 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning purchased a new position in shares of Clarivate in the third quarter worth $142,000. KBC Group NV raised its stake in shares of Clarivate by 33.2% during the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after acquiring an additional 2,549 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 2,865 shares during the period. Empowered Funds LLC bought a new stake in shares of Clarivate in the third quarter worth about $101,000. Finally, Integrated Investment Consultants LLC raised its position in Clarivate by 2.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company’s stock valued at $686,000 after purchasing an additional 2,696 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Barclays dropped their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of Clarivate in a report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and a consensus price target of $7.10.

Clarivate Trading Up 0.1 %

NYSE:CLVT opened at $4.85 on Monday. Clarivate Plc has a 52 week low of $4.22 and a 52 week high of $9.07. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of -5.05 and a beta of 1.17. The company’s 50 day moving average price is $5.12 and its 200-day moving average price is $5.80. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88.

Clarivate declared that its board has authorized a stock buyback program on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are 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.