Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 41,590,000 shares, a growth of 15.8% from the November 15th total of 35,930,000 shares. Based on an average daily volume of 5,140,000 shares, the days-to-cover ratio is currently 8.1 days.

Insider Buying and Selling

In related news, insider Bar Veinstein sold 120,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $7.00, for a total value of $840,000.00. Following the completion of the sale, the insider now directly owns 976,583 shares in the company, valued at $6,836,081. This trade represents a 10.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Angelakis purchased 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $5.11 per share, with a total value of $7,665,000.00. Following the completion of the purchase, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 22.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Clarivate in the 2nd quarter valued at $1,410,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Clarivate during the second quarter worth about $2,251,000. Cerity Partners LLC boosted its holdings in Clarivate by 82.5% during the third quarter. Cerity Partners LLC now owns 202,204 shares of the company’s stock worth $1,436,000 after purchasing an additional 91,384 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Clarivate by 112.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,040,426 shares of the company’s stock valued at $7,387,000 after acquiring an additional 551,838 shares during the last quarter. Finally, Raymond James & Associates boosted its holdings in shares of Clarivate by 19.0% in the 2nd quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after buying an additional 1,157,976 shares during the last quarter. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Clarivate Stock Up 7.6 %

NYSE:CLVT traded up $0.39 during trading hours on Monday, hitting $5.50. The stock had a trading volume of 6,420,601 shares, compared to its average volume of 4,596,281. The business has a 50 day simple moving average of $5.83 and a two-hundred day simple moving average of $6.07. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.84. The company has a market cap of $3.91 billion, a PE ratio of -2.76 and a beta of 1.12. Clarivate has a 1-year low of $4.25 and a 1-year 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, hitting 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 for the quarter, compared to analysts’ expectations of $640.81 million. During the same period last year, the business posted $0.18 earnings per share. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Analysts predict that Clarivate will post 0.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on CLVT. Royal Bank of Canada dropped their price objective on Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Barclays cut their price objective on Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. Finally, William Blair cut Clarivate from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Clarivate has an average rating of “Hold” and a consensus price target of $7.10.

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.