Short Interest in Clarivate Plc (NYSE:CLVT) Expands By 8.8%

Clarivate Plc (NYSE:CLVT - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 36,900,000 shares, a growth of 8.8% from the March 15th total of 33,920,000 shares. Based on an average trading volume of 3,970,000 shares, the days-to-cover ratio is currently 9.3 days. Currently, 10.0% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms have commented on CLVT. Royal Bank of Canada reduced their price target on shares of Clarivate from $10.00 to $8.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 28th. Barclays lowered their price objective on shares of Clarivate from $7.00 to $6.00 and set an "underweight" rating for the company in a research report on Wednesday, February 28th. Oppenheimer lowered their price objective on shares of Clarivate from $11.00 to $10.00 and set an "outperform" rating for the company in a research report on Wednesday, February 28th. Finally, Morgan Stanley decreased their price target on Clarivate from $9.00 to $8.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $8.00.

Clarivate Stock Down 3.0 %

Clarivate stock traded down $0.21 during trading on Monday, hitting $6.86. 5,447,344 shares of the company were exchanged, compared to its average volume of 3,991,214. The business's 50 day moving average is $7.81 and its 200 day moving average is $7.85. Clarivate has a 52 week low of $6.07 and a 52 week high of $10.03. The company has a market capitalization of $4.58 billion, a P/E ratio of -4.64, a PEG ratio of 1.46 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.21. The firm had revenue of $683.70 million during 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 revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. Analysts predict that Clarivate will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Clarivate

Institutional investors have recently modified their holdings of the company. US Bancorp DE grew its position in shares of Clarivate by 5.6% in the 1st quarter. US Bancorp DE now owns 14,343 shares of the company's stock worth $240,000 after buying an additional 765 shares during the last quarter. HighTower Advisors LLC grew its holdings in shares of Clarivate by 19.1% in the first quarter. HighTower Advisors LLC now owns 98,518 shares of the company's stock worth $1,656,000 after acquiring an additional 15,785 shares during the period. Private Advisor Group LLC bought a new stake in shares of Clarivate in the first quarter worth $191,000. AlphaCrest Capital Management LLC grew its holdings in Clarivate by 47.7% during the first quarter. AlphaCrest Capital Management LLC now owns 25,536 shares of the company's stock valued at $428,000 after purchasing an additional 8,243 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Clarivate during the first quarter valued at about $204,000. 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.

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