Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 41,590,000 shares, an increase of 15.8% from the November 15th total of 35,930,000 shares. Based on an average trading volume of 5,140,000 shares, the short-interest ratio is presently 8.1 days.

Clarivate Stock Up 6.3 %

Shares of CLVT traded up $0.32 during midday trading on Monday, reaching $5.43. 4,023,751 shares of the stock were exchanged, compared to its average volume of 4,585,874. The firm has a 50 day simple moving average of $5.83 and a 200-day simple moving average of $6.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. Clarivate has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -2.76 and a beta of 1.12.

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

Insider Buying and Selling

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of $5.19 per share, for a total transaction of $3,970,350.00. Following the transaction, the director now owns 3,465,000 shares of the company’s stock, valued at $17,983,350. The trade was a 28.33 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bar Veinstein sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 22.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLVT. Baupost Group LLC MA increased its position in Clarivate by 27.2% in the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares during the period. Dimensional Fund Advisors LP increased its position in Clarivate by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after buying an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC increased its position in Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after buying an additional 2,332,388 shares during the period. Brown Brothers Harriman & Co. increased its position in Clarivate by 37.5% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock worth $35,558,000 after buying an additional 1,704,761 shares during the period. Finally, Clearline Capital LP increased its position in Clarivate by 141.2% in the 2nd quarter. Clearline Capital LP now owns 2,088,422 shares of the company’s stock worth $11,883,000 after buying an additional 1,222,646 shares during the period. 85.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CLVT. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Barclays cut their price target on Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, November 7th. Finally, Royal Bank of Canada cut their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clarivate presently has an average rating of “Hold” and a consensus price target of $7.10.

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.