Clarivate Plc (NYSE:CLVT) Short Interest Up 9.5% in October

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CLVT. Royal Bank of Canada cut their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Barclays cut their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Two equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.25.

Clarivate Stock Up 6.7 %

NYSE:CLVT opened at $4.62 on Tuesday. Clarivate has a 1-year low of $4.25 and a 1-year high of $9.60. The company has a 50-day moving average of $6.30 and a 200 day moving average of $6.16. The firm has a market cap of $3.28 billion, a PE ratio of -2.32 and a beta of 1.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.88 and a quick ratio of 0.88.

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

Insiders Place Their Bets

In related news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total transaction of $420,000.00. Following the completion of the transaction, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. This represents a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction 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 transaction, the director now owns 23,741 shares of the company’s stock, valued at approximately $160,251.75. This represents a 42.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,646 shares of company stock worth $1,379,111 over the last three months. 22.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clarivate

A number of large investors have recently added to or reduced their stakes in the company. Baupost Group LLC MA raised its holdings in Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after purchasing an additional 8,331,233 shares in the last quarter. Impactive Capital LP increased its holdings in shares of Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock valued at $281,502,000 after acquiring an additional 109,247 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after acquiring an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock valued at $55,344,000 after acquiring an additional 2,332,388 shares in the last quarter. Finally, Raymond James & Associates increased its holdings in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after acquiring an additional 1,157,976 shares in the last quarter. 85.72% of the stock is currently owned by institutional investors.

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.