Clarivate Plc (NYSE:CLVT) Sees Significant Growth in Short Interest

Clarivate Plc (NYSE:CLVT) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 36,900,000 shares, an increase of 8.8% from the March 15th total of 33,920,000 shares. Based on an average daily volume of 3,970,000 shares, the short-interest ratio is currently 9.3 days. Currently, 10.0% of the company’s shares are short sold.

Institutional Trading of Clarivate

Institutional investors have recently made changes to their positions in the business. Exor N.V. increased its position in Clarivate by 102.4% during the 4th quarter. Exor N.V. now owns 65,728,365 shares of the company’s stock valued at $608,645,000 after buying an additional 33,256,346 shares in the last quarter. Baupost Group LLC MA purchased a new stake in shares of Clarivate during the third quarter worth about $150,975,000. Select Equity Group L.P. grew its stake in shares of Clarivate by 70.1% during the first quarter. Select Equity Group L.P. now owns 19,454,805 shares of the company’s stock worth $182,681,000 after acquiring an additional 8,018,679 shares during the last quarter. Norges Bank acquired a new position in shares of Clarivate during the fourth quarter valued at about $64,910,000. Finally, River Road Asset Management LLC purchased a new position in shares of Clarivate in the 3rd quarter valued at approximately $45,772,000. Institutional investors and hedge funds own 85.72% of the company’s stock.

Clarivate Stock Down 1.0 %

Shares of CLVT stock traded down $0.07 during mid-day trading on Wednesday, hitting $6.79. 9,266,018 shares of the stock traded hands, compared to its average volume of 3,435,818. The stock’s fifty day moving average is $7.76 and its two-hundred day moving average is $7.85. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.91. Clarivate has a 52-week low of $6.07 and a 52-week high of $10.03. The stock has a market cap of $4.54 billion, a P/E ratio of -4.59, a P/E/G ratio of 1.41 and a beta of 1.24.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Clarivate had a negative net margin of 34.66% and a positive return on equity of 9.95%. The company had revenue of $683.70 million during the quarter, compared to analysts’ expectations of $687.80 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. Clarivate’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that Clarivate will post 0.61 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CLVT. Royal Bank of Canada lowered their price target on Clarivate from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Wednesday, February 28th. Oppenheimer lowered their target price on Clarivate from $11.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, February 28th. Morgan Stanley dropped their price target on Clarivate from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 28th. Finally, Barclays lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.00.

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.