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

Clarivate Plc (NYSE:CLVT) saw a large increase in short interest in 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. Currently, 10.0% of the shares of the stock are short sold. Based on an average daily volume of 3,970,000 shares, the short-interest ratio is presently 9.3 days.

Clarivate Stock Performance

Shares of NYSE:CLVT traded down $0.07 during mid-day trading on Wednesday, reaching $6.79. The company had a trading volume of 9,266,018 shares, compared to its average volume of 3,435,818. The company’s 50-day moving average price is $7.76 and its 200-day moving average price is $7.85. Clarivate has a one year low of $6.07 and a one year high of $10.03. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -4.59, a PEG ratio of 1.41 and a beta of 1.24. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.03.

Clarivate (NYSE:CLVT) last posted its earnings results on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. The firm had revenue of $683.70 million for the quarter, compared to the consensus estimate of $687.80 million. Clarivate had a positive return on equity of 9.95% and a negative net margin of 34.66%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. As a group, equities research analysts anticipate that Clarivate will post 0.61 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Clarivate

A number of institutional investors have recently added to or reduced their stakes in CLVT. Exor N.V. raised its position in Clarivate by 102.4% during the fourth quarter. Exor N.V. now owns 65,728,365 shares of the company’s stock valued at $608,645,000 after purchasing an additional 33,256,346 shares in the last quarter. Baupost Group LLC MA purchased a new position in shares of Clarivate during the third quarter worth approximately $150,975,000. Select Equity Group L.P. boosted its stake in shares of Clarivate by 70.1% in the 1st quarter. Select Equity Group L.P. now owns 19,454,805 shares of the company’s stock valued at $182,681,000 after purchasing an additional 8,018,679 shares in the last quarter. Norges Bank bought a new stake in shares of Clarivate in the 4th quarter valued at about $64,910,000. Finally, River Road Asset Management LLC purchased a new position in Clarivate in the 3rd quarter worth approximately $45,772,000. 85.72% of the stock is currently owned by institutional investors.

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.