Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 26,460,000 shares, a drop of 9.9% from the August 15th total of 29,370,000 shares. Currently, 6.2% of the company’s stock are sold short. Based on an average daily volume of 4,380,000 shares, the days-to-cover ratio is currently 6.0 days.

Clarivate Stock Performance

NYSE:CLVT traded down $0.04 during midday trading on Tuesday, reaching $6.64. 2,185,606 shares of the company traded hands, compared to its average volume of 4,343,918. Clarivate has a twelve month low of $4.97 and a twelve month high of $9.60. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -4.00, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.90 and a quick ratio of 0.90. The company has a fifty day moving average price of $6.39 and a 200 day moving average price of $6.45.

Clarivate (NYSE:CLVT) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.02. Clarivate had a positive return on equity of 10.01% and a negative net margin of 46.53%. The business had revenue of $650.30 million during the quarter, compared to analyst estimates of $651.94 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts expect that Clarivate will post 0.64 EPS for the current fiscal year.

Insider Buying and Selling at Clarivate

In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Clarivate news, Director Saurabh Saha sold 17,646 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrew Miles Snyder acquired 28,938 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $5.49 per share, with a total value of $158,869.62. Following the purchase, the director now owns 288,334 shares in the company, valued at $1,582,953.66. The disclosure for this purchase can be found here. 22.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLVT. SG Americas Securities LLC acquired a new stake in shares of Clarivate in the second quarter valued at $1,410,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Clarivate in the fourth quarter valued at $25,576,000. Glenview Capital Management LLC lifted its holdings in shares of Clarivate by 22.2% in the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after buying an additional 4,472,302 shares during the period. Capital World Investors acquired a new stake in shares of Clarivate in the first quarter valued at $30,104,000. Finally, Confluence Investment Management LLC acquired a new stake in shares of Clarivate in the first quarter valued at $18,389,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Wall Street Analysts Forecast Growth

CLVT has been the subject of several research reports. Royal Bank of Canada decreased their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Barclays decreased their target price on Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Wednesday, August 7th. Two 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.75.

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.