Clarivate Plc (NYSE:CLVT) Short Interest Update

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays decreased their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada reduced their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note 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 MarketBeat.com, Clarivate currently has a consensus rating of “Hold” and a consensus target price of $7.75.

Insider Transactions at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of the company’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 sale, the director now directly owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andrew Miles Snyder purchased 28,938 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $5.49 per share, for a total transaction of $158,869.62. Following the acquisition, the director now owns 288,334 shares of the company’s stock, valued at approximately $1,582,953.66. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction 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 sale, the director now owns 23,741 shares in the company, valued at approximately $160,251.75. The disclosure for this sale can be found here. Insiders own 22.77% of the company’s stock.

Hedge Funds Weigh In On Clarivate

A number of hedge funds and other institutional investors have recently made changes to their positions in CLVT. Baupost Group LLC MA boosted its position in Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after purchasing an additional 8,331,233 shares in the last quarter. Norges Bank bought a new stake in Clarivate during the fourth quarter valued at about $54,457,000. Glenview Capital Management LLC boosted its position in Clarivate by 22.2% during the fourth quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after purchasing an additional 4,472,302 shares in the last quarter. Capital World Investors bought a new stake in Clarivate during the first quarter valued at about $30,104,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Clarivate during the fourth quarter valued at about $25,576,000. Institutional investors own 85.72% of the company’s stock.

Clarivate Stock Up 2.7 %

Shares of CLVT traded up $0.18 during midday trading on Wednesday, reaching $6.82. 3,124,806 shares of the stock were exchanged, compared to its average volume of 4,337,151. Clarivate has a 52 week low of $4.97 and a 52 week high of $9.60. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $6.39 and its two-hundred day moving average is $6.45. The company has a market capitalization of $4.56 billion, a P/E ratio of -4.11, a PEG ratio of 3.24 and a beta of 1.17.

Clarivate (NYSE:CLVT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $651.94 million. During the same quarter in the prior year, the company earned $0.16 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Clarivate will post 0.64 earnings per share for the current 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.