Short Interest in Clarivate Plc (NYSE:CLVT) Decreases By 7.1%

Clarivate Plc (NYSE:CLVT) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 43,170,000 shares, a decline of 7.1% from the December 15th total of 46,470,000 shares. Approximately 10.4% of the company’s stock are sold short. Based on an average daily trading volume, of 5,220,000 shares, the days-to-cover ratio is presently 8.3 days.

Insider Transactions at Clarivate

In other news, Director Michael J. Angelakis acquired 765,000 shares of Clarivate stock in a transaction on Friday, November 22nd. The stock was bought at an average price of $5.19 per share, for a total transaction of $3,970,350.00. Following the completion of the purchase, the director now owns 3,465,000 shares in the company, valued at $17,983,350. This represents a 28.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 23.14% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Hedge funds have recently made changes to their positions in the business. Perpetual Ltd raised its holdings in shares of Clarivate by 24.6% during the 4th quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after buying an additional 1,816,936 shares during the period. Kathmere Capital Management LLC acquired a new stake in shares of Clarivate during the fourth quarter worth approximately $58,000. GAMMA Investing LLC increased its stake in shares of Clarivate by 161.4% in the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after buying an additional 3,245 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Clarivate by 3.8% in the third quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after acquiring an additional 5,945 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Clarivate during the 3rd quarter valued at $236,000. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Clarivate Trading Up 0.1 %

NYSE CLVT traded up $0.01 during trading hours on Friday, hitting $5.10. 2,818,483 shares of the company’s stock were exchanged, compared to its average volume of 2,947,887. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market capitalization of $3.62 billion, a P/E ratio of -2.56 and a beta of 1.14. The business’s 50 day moving average is $5.19 and its 200-day moving average is $5.98. Clarivate has a 12-month low of $4.25 and a 12-month high of $9.60.

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

Clarivate announced that its board has initiated a stock repurchase program on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 12.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CLVT has been the subject of a number of analyst reports. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Royal Bank of Canada dropped their price target on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Finally, Barclays reduced their target price on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Clarivate currently has a consensus rating of “Hold” and a consensus target price of $7.10.

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.