Cove Street Capital LLC Has $3.68 Million Stock Position in Clarivate Plc (NYSE:CLVT)

Cove Street Capital LLC increased its holdings in shares of Clarivate Plc (NYSE:CLVT) by 9.4% during the 4th quarter, HoldingsChannel reports. The fund owned 724,868 shares of the company’s stock after buying an additional 62,072 shares during the period. Clarivate accounts for approximately 4.3% of Cove Street Capital LLC’s portfolio, making the stock its 5th biggest holding. Cove Street Capital LLC’s holdings in Clarivate were worth $3,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after purchasing an additional 3,245 shares during the last quarter. Kathmere Capital Management LLC bought a new position in Clarivate during the 4th quarter valued at approximately $58,000. Truist Financial Corp raised its stake in Clarivate by 27.3% during the fourth 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. Fox Run Management L.L.C. bought a new stake in Clarivate in the fourth quarter worth $72,000. Finally, KBC Group NV grew its stake in shares of Clarivate by 77.2% in the fourth quarter. KBC Group NV now owns 18,115 shares of the company’s stock worth $92,000 after acquiring an additional 7,890 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Price Performance

Shares of NYSE CLVT opened at $3.97 on Friday. The firm has a market cap of $2.73 billion, a P/E ratio of -4.13 and a beta of 1.28. Clarivate Plc has a twelve month low of $3.90 and a twelve month high of $7.77. The company has a quick ratio of 0.88, a current ratio of 0.87 and a debt-to-equity ratio of 0.88. The company has a 50 day moving average of $4.68 and a 200 day moving average of $5.42.

Clarivate declared 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 outstanding shares. This buyback authorization allows the company to purchase up to 12.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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