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

Clarivate Plc (NYSE:CLVT) was the recipient of a significant increase in short interest during 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 trading volume, of 4,110,000 shares, the short-interest ratio is currently 8.5 days. Currently, 8.4% of the shares of the company are sold short.

Clarivate Trading Up 6.7 %

Shares of 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 firm has a market capitalization of $3.28 billion, a price-to-earnings 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. The business’s 50 day moving average price is $6.30 and its 200-day moving average price is $6.16.

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

Insider Activity at Clarivate

In other Clarivate news, insider Bar Veinstein sold 60,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the sale, the insider now owns 916,583 shares in the company, valued at approximately $6,416,081. This represents a 6.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Saurabh Saha sold 17,646 shares of the company’s stock in a transaction that occurred 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 owns 23,741 shares in the company, 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 have sold a total of 197,646 shares of company stock worth $1,379,111 over the last quarter. Insiders own 22.77% of the company’s stock.

Institutional Trading of Clarivate

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Evermay Wealth Management LLC acquired a new stake in shares of Clarivate during the 1st quarter worth about $31,000. Nisa Investment Advisors LLC acquired a new stake in shares of Clarivate during the 2nd quarter worth about $26,000. KBC Group NV increased its position in shares of Clarivate by 33.2% during the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock worth $73,000 after purchasing an additional 2,549 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Clarivate during the 2nd quarter worth about $63,000. Finally, Forum Financial Management LP acquired a new stake in shares of Clarivate during the 2nd quarter worth about $75,000. 85.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CLVT. Barclays lowered their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada decreased 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Clarivate has an average rating of “Hold” and a consensus target price of $7.25.

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.