Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) was the target of a significant decrease in short interest in the month of 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. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,380,000 shares, the days-to-cover ratio is currently 6.0 days.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Clarivate in the second quarter valued at about $1,410,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Clarivate during the 4th quarter worth about $25,576,000. Glenview Capital Management LLC boosted 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 worth $228,269,000 after acquiring an additional 4,472,302 shares in the last quarter. Capital World Investors bought a new stake in shares of Clarivate during the 1st quarter worth about $30,104,000. Finally, Confluence Investment Management LLC bought a new stake in shares of Clarivate during the 1st quarter worth about $18,389,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CLVT. Royal Bank of Canada cut their target price on Clarivate from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their price target on Clarivate from $6.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.75.

Clarivate Stock Down 0.6 %

NYSE CLVT traded down $0.04 on Tuesday, reaching $6.64. The stock had a trading volume of 2,185,606 shares, compared to its average volume of 4,343,918. The business has a 50 day moving average price of $6.39 and a 200 day moving average price of $6.45. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.83. Clarivate has a 1 year low of $4.97 and a 1 year high of $9.60. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of -4.00, a P/E/G ratio of 3.24 and a beta of 1.17.

Clarivate (NYSE:CLVT) last issued its earnings results on Tuesday, August 6th. The company reported $0.20 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 firm had revenue of $650.30 million for the quarter, compared to the consensus estimate of $651.94 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Clarivate will post 0.64 EPS for the current fiscal year.

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.