Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT) was the target of a significant decrease in short interest during 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. Currently, 10.4% of the shares of the company are short sold. Based on an average daily trading volume, of 5,220,000 shares, the short-interest ratio is currently 8.3 days.

Clarivate Stock Up 0.1 %

Shares of CLVT traded up $0.01 on Friday, hitting $5.10. The company’s stock had a trading volume of 2,818,483 shares, compared to its average volume of 2,947,887. 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 firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of -2.56 and a beta of 1.14. The firm’s fifty day moving average price is $5.19 and its 200-day moving average price is $5.98. Clarivate has a fifty-two week low of $4.25 and a fifty-two week high of $9.60.

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

Clarivate announced that its Board of Directors has initiated a stock repurchase plan on Monday, December 16th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 12.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Clarivate news, Director Michael J. Angelakis acquired 765,000 shares of Clarivate stock in a transaction dated Friday, November 22nd. The stock was bought at an average cost 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. The trade was a 28.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.14% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clarivate

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLVT. GAMMA Investing LLC boosted its holdings in shares of Clarivate by 161.4% in the 4th quarter. GAMMA Investing LLC now owns 5,256 shares of the company’s stock valued at $27,000 after buying an additional 3,245 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in shares of Clarivate in the 4th quarter valued at about $58,000. Truist Financial Corp acquired a new stake in Clarivate in the 2nd quarter valued at about $63,000. KBC Group NV lifted its stake in Clarivate by 33.2% in the 3rd quarter. KBC Group NV now owns 10,225 shares of the company’s stock valued at $73,000 after purchasing an additional 2,549 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Clarivate during the second quarter worth approximately $91,000. 85.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank of Canada decreased their price objective on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Barclays dropped their price objective on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, November 7th. Finally, William Blair lowered Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.10.

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.