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

Clarivate Plc (NYSE:CLVT) saw a significant growth in short interest in 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 short-interest ratio is presently 8.1 days.

Insider Activity at Clarivate

In other news, Director Michael J. Angelakis bought 765,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $5.19 per share, with a total value of $3,970,350.00. Following the acquisition, the director now owns 3,465,000 shares of the company’s stock, valued at approximately $17,983,350. This represents a 28.33 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bar Veinstein sold 60,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $7.00, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 916,583 shares of the company’s stock, valued at $6,416,081. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. 22.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clarivate

Large investors have recently made changes to their positions in the company. Baupost Group LLC MA raised its holdings in shares of Clarivate by 27.2% in the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after buying an additional 8,331,233 shares during the period. Dimensional Fund Advisors LP increased its stake in Clarivate by 19.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Clarivate by 19.0% during the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after purchasing an additional 1,157,976 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Clarivate by 8.6% in the third quarter. Geode Capital Management LLC now owns 7,243,336 shares of the company’s stock worth $51,443,000 after purchasing an additional 571,289 shares during the last quarter. 85.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on CLVT. Royal Bank of Canada cut their target price on Clarivate from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. William Blair lowered shares of Clarivate from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 6th. Finally, Barclays lowered their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.10.

Clarivate Trading Up 7.6 %

CLVT traded up $0.39 on Monday, hitting $5.50. The company had a trading volume of 6,420,601 shares, compared to its average volume of 4,596,281. Clarivate has a 12-month low of $4.25 and a 12-month high of $9.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84. The business’s fifty day simple moving average is $5.81 and its 200 day simple moving average is $6.07. The company has a market cap of $3.91 billion, a PE ratio of -2.76 and a beta of 1.12.

Clarivate (NYSE:CLVT) last released its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting the consensus estimate of $0.19. The firm had revenue of $622.20 million for the quarter, compared to the consensus estimate of $640.81 million. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts expect that Clarivate will post 0.63 EPS for the current year.

Clarivate announced that its board has initiated a stock buyback program on Monday, December 16th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 12.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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.