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

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

Clarivate Price Performance

Shares of CLVT stock traded up $0.26 on Monday, hitting $4.59. 12,542,883 shares of the company’s stock were exchanged, compared to its average volume of 4,444,854. The company has a 50 day moving average of $6.34 and a 200 day moving average of $6.18. The stock has a market cap of $3.26 billion, a P/E ratio of -2.18 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 has a 12 month low of $4.27 and a 12 month high of $9.60.

Clarivate (NYSE:CLVT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, equities research analysts predict that Clarivate will post 0.63 EPS for the current year.

Insiders Place Their Bets

In related news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bar Veinstein sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 197,646 shares of company stock valued at $1,379,111. Corporate insiders own 22.77% of the company’s stock.

Institutional Investors Weigh In On Clarivate

Several large investors have recently added to or reduced their stakes in the business. Baupost Group LLC MA raised its holdings in shares of 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 acquiring an additional 8,331,233 shares in the last quarter. Capital World Investors purchased a new stake in Clarivate in the first quarter worth about $30,104,000. Dimensional Fund Advisors LP lifted its stake in shares of Clarivate by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock valued at $83,945,000 after buying an additional 2,409,470 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in Clarivate by 31.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Clarivate by 37.5% in the second quarter. Brown Brothers Harriman & Co. now owns 6,249,260 shares of the company’s stock worth $35,558,000 after purchasing an additional 1,704,761 shares during the last quarter. Institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CLVT shares. Royal Bank of Canada decreased their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Barclays decreased their price target on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, November 7th. Finally, William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.25.

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.