Clarivate Plc (NYSE:CLVT) Sees Significant Decline in Short Interest

Clarivate Plc (NYSE:CLVT) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 32,190,000 shares, a decline of 35.5% from the May 31st total of 49,910,000 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average trading volume of 4,590,000 shares, the short-interest ratio is presently 7.0 days.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lowered their target price on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.78.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLVT. Evermay Wealth Management LLC purchased a new position in Clarivate during the first quarter worth about $31,000. Montag A & Associates Inc. increased its stake in shares of Clarivate by 729.6% during the 4th quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock valued at $72,000 after acquiring an additional 6,800 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new position in shares of Clarivate during the 1st quarter worth about $76,000. Wedmont Private Capital acquired a new stake in shares of Clarivate in the fourth quarter worth approximately $99,000. Finally, TFO Wealth Partners LLC grew its holdings in Clarivate by 1,590,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 15,901 shares of the company’s stock valued at $147,000 after purchasing an additional 15,900 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Performance

Shares of CLVT opened at $5.69 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.03. The stock has a market cap of $3.80 billion, a P/E ratio of -3.43, a PEG ratio of 3.84 and a beta of 1.20. The company has a 50-day moving average of $6.08 and a two-hundred day moving average of $7.51. Clarivate has a 12-month low of $5.19 and a 12-month high of $10.03.

Clarivate (NYSE:CLVT) last announced its earnings results on Wednesday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $621.20 million during the quarter, compared to analysts’ expectations of $614.57 million. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. As a group, research analysts predict that Clarivate will post 0.62 EPS for the current fiscal year.

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.