Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 43,170,000 shares, a decrease of 7.1% from the December 15th total of 46,470,000 shares. Based on an average trading volume of 5,220,000 shares, the days-to-cover ratio is currently 8.3 days. Approximately 10.4% of the company’s shares are short sold.

Analysts Set New Price Targets

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

Insider Activity

In other Clarivate news, Director Michael J. Angelakis acquired 1,500,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average price of $5.11 per share, for a total transaction of $7,665,000.00. Following the acquisition, the director now directly owns 1,500,000 shares in the company, valued at $7,665,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 23.14% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Perpetual Ltd lifted its position in shares of Clarivate by 24.6% in the fourth quarter. Perpetual Ltd now owns 9,192,680 shares of the company’s stock valued at $46,699,000 after acquiring an additional 1,816,936 shares in the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Clarivate in the 4th quarter valued at approximately $58,000. GAMMA Investing LLC increased its stake in Clarivate by 161.4% during the fourth quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock worth $27,000 after acquiring an additional 3,245 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in Clarivate by 3.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 161,798 shares of the company’s stock valued at $1,149,000 after buying an additional 5,945 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Clarivate in the 3rd quarter worth approximately $236,000. 85.72% of the stock is owned by institutional investors and hedge funds.

Clarivate Stock Performance

Shares of Clarivate stock traded up $0.01 during trading on Friday, hitting $5.10. 2,818,483 shares of the company’s stock were exchanged, compared to its average volume of 2,947,887. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. The business has a 50-day simple moving average of $5.19 and a 200-day simple moving average of $5.98. Clarivate has a 52-week low of $4.25 and a 52-week high of $9.60. 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 (NYSE:CLVT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.19. Clarivate had a negative net margin of 50.00% and a positive return on equity of 9.69%. The firm had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Clarivate will post 0.63 EPS for the current year.

Clarivate announced that its board has approved a share buyback plan on Monday, December 16th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Clarivate

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.