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

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

Insider Buying and Selling at Clarivate

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

Institutional Investors Weigh In On Clarivate

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baupost Group LLC MA grew its stake in shares of Clarivate by 27.2% during the 2nd quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock valued at $221,510,000 after acquiring an additional 8,331,233 shares during the period. Norges Bank bought a new position in shares of Clarivate during the 4th quarter valued at approximately $54,457,000. Glenview Capital Management LLC grew its stake in shares of Clarivate by 22.2% during the 4th quarter. Glenview Capital Management LLC now owns 24,651,047 shares of the company’s stock valued at $228,269,000 after acquiring an additional 4,472,302 shares during the period. Capital World Investors bought a new position in shares of Clarivate during the 1st quarter valued at approximately $30,104,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Clarivate during the 4th quarter valued at approximately $25,576,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Stock Performance

Shares of NYSE CLVT traded up $0.18 during midday trading on Wednesday, hitting $6.82. 3,124,806 shares of the company’s stock traded hands, compared to its average volume of 4,337,151. Clarivate has a 1 year low of $4.97 and a 1 year high of $9.60. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of -4.11, 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 quick ratio of 0.90 and a current ratio of 0.90. The firm has a fifty day moving average of $6.39 and a 200 day moving average of $6.45.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on CLVT. Royal Bank of Canada reduced their price objective on Clarivate from $8.00 to $7.00 and set a “sector perform” rating for the company in a report on Wednesday, August 7th. Barclays reduced their price target on shares of Clarivate from $6.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Clarivate currently has an average rating of “Hold” and an average target price of $7.75.

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.