Brown Brothers Harriman & Co. Trims Stake in Clarivate Plc (NYSE:CLVT)

Brown Brothers Harriman & Co. lowered its position in Clarivate Plc (NYSE:CLVT) by 11.4% in the 4th quarter, Holdings Channel reports. The fund owned 5,535,980 shares of the company’s stock after selling 713,474 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Clarivate were worth $28,123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its stake in shares of Clarivate by 25.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 43,677 shares of the company’s stock worth $222,000 after acquiring an additional 8,742 shares in the last quarter. Norges Bank bought a new position in shares of Clarivate during the fourth quarter valued at approximately $27,764,000. JPMorgan Chase & Co. lifted its holdings in shares of Clarivate by 6.6% during the fourth quarter. JPMorgan Chase & Co. now owns 413,889 shares of the company’s stock valued at $2,103,000 after purchasing an additional 25,546 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Clarivate by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 8,750,858 shares of the company’s stock valued at $44,454,000 after purchasing an additional 538,907 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in shares of Clarivate in the 4th quarter worth approximately $115,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Clarivate Trading Down 3.1 %

NYSE:CLVT opened at $3.97 on Friday. Clarivate Plc has a 52 week low of $3.90 and a 52 week high of $7.77. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of -4.13 and a beta of 1.28. The company’s 50 day moving average price is $4.68 and its 200-day moving average price is $5.42. 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 announced that its board has approved a share 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.