Short Interest in Clarivate Plc (NYSE:CLVT) Expands By 9.5%

Clarivate Plc (NYSE:CLVT - Get Free Report) saw a large growth in short interest in the month of 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. Currently, 8.4% of the company's shares are short sold. Based on an average trading volume of 4,110,000 shares, the days-to-cover ratio is presently 8.5 days.

Insider Activity at Clarivate

In other news, Director Saurabh Saha sold 17,646 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the sale, the director now directly owns 23,741 shares in the company, valued at approximately $160,251.75. This represents a 42.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bar Veinstein sold 60,000 shares of the company'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 transaction, the insider now directly owns 916,583 shares of the company's stock, valued at $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,646 shares of company stock worth $1,379,111 in the last ninety days. 22.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clarivate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Clarivate by 5.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,557 shares of the company's stock valued at $168,000 after acquiring an additional 1,580 shares during the last quarter. Arizona State Retirement System boosted its holdings in Clarivate by 2.5% in the second quarter. Arizona State Retirement System now owns 84,172 shares of the company's stock valued at $479,000 after purchasing an additional 2,064 shares during the last quarter. KBC Group NV boosted its holdings in Clarivate by 33.2% in the third quarter. KBC Group NV now owns 10,225 shares of the company's stock valued at $73,000 after purchasing an additional 2,549 shares during the last quarter. Ironwood Investment Counsel LLC grew its position in Clarivate by 3.5% during the 1st quarter. Ironwood Investment Counsel LLC now owns 76,225 shares of the company's stock worth $566,000 after purchasing an additional 2,575 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of Clarivate by 2.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 96,656 shares of the company's stock valued at $686,000 after buying an additional 2,696 shares during the last quarter. Hedge funds and other institutional investors own 85.72% of the company's stock.

Clarivate Stock Down 3.8 %

Clarivate stock traded down $0.17 during midday trading on Friday, hitting $4.33. 6,366,845 shares of the company's stock were exchanged, compared to its average volume of 6,326,815. The company has a market cap of $3.08 billion, a PE ratio of -2.18 and a beta of 1.18. The firm has a 50-day moving average of $6.34 and a two-hundred day moving average of $6.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.88 and a current ratio of 0.88. Clarivate has a 12 month low of $4.33 and a 12 month high of $9.60.

Clarivate (NYSE:CLVT - Get Free Report) last posted 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 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 analysts' expectations of $640.81 million. During the same quarter last year, the firm earned $0.18 EPS. The business's quarterly revenue was down 3.9% on a year-over-year basis. As a group, analysts expect that Clarivate will post 0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLVT. Royal Bank of Canada lowered their price objective 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 target price on shares of Clarivate from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, November 7th. Finally, William Blair cut Clarivate from an "outperform" rating to a "market perform" rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company 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.