Clarivate Plc (NYSE:CLVT) Sees Large Growth in Short Interest

Clarivate Plc (NYSE:CLVT) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 34,990,000 shares, a growth of 9.5% from the October 15th total of 31,940,000 shares. Based on an average trading volume of 4,110,000 shares, the short-interest ratio is currently 8.5 days. Currently, 8.4% of the company’s stock are sold short.

Insider Activity

In related news, Director Saurabh Saha sold 17,646 shares of Clarivate stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total value of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The trade was a 42.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the transaction, the insider now directly owns 976,583 shares of the company’s stock, valued at $6,836,081. This trade represents a 10.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,646 shares of company stock worth $1,379,111 over the last 90 days. 22.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Clarivate

A number of institutional investors have recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new stake in Clarivate during the 1st quarter valued at $31,000. Nisa Investment Advisors LLC bought a new stake in shares of Clarivate during the second quarter valued at approximately $26,000. KBC Group NV increased its holdings in shares of Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares in the last quarter. Truist Financial Corp bought a new position in Clarivate in the 2nd quarter worth approximately $63,000. Finally, Forum Financial Management LP acquired a new position in Clarivate during the 2nd quarter worth $75,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Trading Up 6.0 %

CLVT stock traded up $0.26 during trading on Monday, reaching $4.59. 12,542,883 shares of the stock traded hands, compared to its average volume of 4,444,854. Clarivate has a 52-week low of $4.27 and a 52-week high of $9.60. The business’s 50 day moving average price is $6.34 and its 200-day moving average price is $6.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $3.26 billion, a PE ratio of -2.18 and a beta of 1.18.

Clarivate (NYSE:CLVT) last issued its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, hitting the consensus estimate of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The firm had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same period last year, the company earned $0.18 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts forecast that Clarivate will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. 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. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.25.

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.