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

Clarivate Plc (NYSE:CLVT) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 32,190,000 shares, a decline of 35.5% from the May 31st total of 49,910,000 shares. Based on an average daily trading volume, of 4,590,000 shares, the days-to-cover ratio is presently 7.0 days. Approximately 8.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLVT. Evermay Wealth Management LLC acquired a new position in shares of Clarivate in the first quarter worth about $31,000. Montag A & Associates Inc. raised its position in shares of Clarivate by 729.6% in the fourth quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock worth $72,000 after acquiring an additional 6,800 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Clarivate in the first quarter worth about $76,000. Wedmont Private Capital acquired a new position in shares of Clarivate in the fourth quarter worth about $99,000. Finally, TFO Wealth Partners LLC raised its position in shares of Clarivate by 1,590,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 15,901 shares of the company’s stock worth $147,000 after acquiring an additional 15,900 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their price objective on shares of Clarivate from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Thursday, May 9th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.78.

Clarivate Trading Down 0.2 %

NYSE CLVT opened at $5.69 on Monday. The company has a market capitalization of $3.80 billion, a PE ratio of -3.43, a P/E/G ratio of 3.84 and a beta of 1.20. The company has a fifty day moving average of $6.08 and a 200 day moving average of $7.51. Clarivate has a 1 year low of $5.19 and a 1 year high of $10.03. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.86 and a quick ratio of 0.86.

Clarivate (NYSE:CLVT) last posted its earnings results on Wednesday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $621.20 million during the quarter, compared to the consensus estimate of $614.57 million. Clarivate had a negative net margin of 39.29% and a positive return on equity of 10.11%. Research analysts forecast that Clarivate will post 0.62 earnings per share for the current year.

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.