Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVTGet Rating) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 29,380,000 shares, a growth of 5.8% from the August 15th total of 27,760,000 shares. Approximately 6.9% of the company’s stock are short sold. Based on an average trading volume of 4,810,000 shares, the days-to-cover ratio is currently 6.1 days.

Insider Buying and Selling at Clarivate

In related news, Director Andrew Miles Snyder bought 208,333 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were acquired at an average price of $11.61 per share, with a total value of $2,418,746.13. Following the transaction, the director now owns 208,333 shares of the company’s stock, valued at $2,418,746.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 24.88% of the company’s stock.

Hedge Funds Weigh In On Clarivate

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in Clarivate by 13.9% in the 1st quarter. Swiss National Bank now owns 1,524,100 shares of the company’s stock worth $25,544,000 after acquiring an additional 186,400 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Clarivate by 8.6% during the 1st quarter. Toronto Dominion Bank now owns 75,353 shares of the company’s stock valued at $1,263,000 after buying an additional 5,945 shares during the last quarter. Diversified Trust Co raised its stake in shares of Clarivate by 10.4% during the 1st quarter. Diversified Trust Co now owns 37,820 shares of the company’s stock valued at $634,000 after buying an additional 3,575 shares during the last quarter. TownSquare Capital LLC purchased a new position in shares of Clarivate during the 1st quarter valued at about $349,000. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Clarivate during the 1st quarter valued at about $154,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CLVT shares. TheStreet raised Clarivate from a “d+” rating to a “c” rating in a research report on Tuesday, May 31st. Royal Bank of Canada lowered their price objective on Clarivate from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Morgan Stanley lowered their price objective on Clarivate from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, September 13th. Finally, Wells Fargo & Company started coverage on Clarivate in a research report on Tuesday, July 12th. They issued an “overweight” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Clarivate currently has an average rating of “Moderate Buy” and an average target price of $17.50.

Clarivate Stock Up 1.1 %

Clarivate stock opened at $10.49 on Thursday. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of -52.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.82 and a quick ratio of 0.82. The business has a fifty day moving average price of $12.82 and a 200-day moving average price of $14.19. Clarivate has a 1-year low of $10.16 and a 1-year high of $25.63.

Clarivate (NYSE:CLVTGet Rating) last issued its earnings results on Tuesday, August 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $686.60 million during the quarter, compared to analyst estimates of $691.51 million. Clarivate had a return on equity of 5.47% and a net margin of 1.87%. Equities research analysts forecast that Clarivate will post 0.7 EPS for the current fiscal year.

Clarivate Company Profile

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Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

Further Reading

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