Clarivate Plc (NYSE:CLVT) Short Interest Up 15.8% in August

Clarivate Plc (NYSE:CLVT) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 50,490,000 shares, a growth of 15.8% from the August 15th total of 43,610,000 shares. Approximately 12.2% of the shares of the stock are sold short. Based on an average daily volume of 6,040,000 shares, the short-interest ratio is presently 8.4 days.

Institutional Trading of Clarivate

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new position in Clarivate in the first quarter worth about $38,000. Tower Research Capital LLC TRC boosted its position in Clarivate by 201.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,682 shares of the company’s stock valued at $45,000 after purchasing an additional 3,129 shares during the period. Fifth Third Bancorp grew its stake in Clarivate by 637.1% during the 1st quarter. Fifth Third Bancorp now owns 4,946 shares of the company’s stock worth $46,000 after buying an additional 4,275 shares during the last quarter. Penserra Capital Management LLC increased its position in Clarivate by 50.0% in the first quarter. Penserra Capital Management LLC now owns 5,322 shares of the company’s stock worth $89,000 after buying an additional 1,774 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in Clarivate by 40.5% in the first quarter. Macquarie Group Ltd. now owns 6,077 shares of the company’s stock valued at $57,000 after buying an additional 1,753 shares during the last quarter. 86.52% of the stock is owned by institutional investors.

Clarivate Price Performance

CLVT traded up $0.06 on Tuesday, reaching $7.39. The company’s stock had a trading volume of 1,432,036 shares, compared to its average volume of 6,025,083. Clarivate has a 1 year low of $6.41 and a 1 year high of $11.99. The business’s 50 day moving average is $7.96 and its 200 day moving average is $8.55. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.88.

Clarivate (NYSE:CLVT) last released its earnings results on Thursday, August 3rd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $668.80 million during the quarter, compared to analysts’ expectations of $673.97 million. Clarivate had a positive return on equity of 9.65% and a negative net margin of 159.90%. The business’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. Research analysts anticipate that Clarivate will post 0.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLVT has been the topic of several recent research reports. Wells Fargo & Company downgraded Clarivate from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $8.00 in a research report on Friday, August 4th. Barclays downgraded Clarivate from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $7.00 in a research report on Friday, September 8th. Bank of America downgraded shares of Clarivate from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $10.00 to $6.00 in a research note on Monday, August 7th. Royal Bank of Canada downgraded Clarivate from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $9.00 to $8.00 in a report on Friday, August 25th. Finally, Oppenheimer reduced their price objective on Clarivate from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.36.

Clarivate Company Profile

Clarivate Plc, an information, analytics, and workflow company, provides structured information and analytics for discovery, development, protection, commercialization, and measurement of scientific research, innovations, and brands. The company operates through three segments: Academia and Government, Life Sciences and Healthcare, and Intellectual Property.