Clarivate Plc (NYSE:CLVT) Short Interest Down 35.5% in June

Clarivate Plc (NYSE:CLVT) was the recipient of a large 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 currently 7.0 days. Currently, 8.0% of the company’s stock are sold short.

Clarivate Stock Performance

Shares of CLVT opened at $5.69 on Monday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average of $6.08 and a two-hundred day moving average of $7.51. The stock has a market cap of $3.80 billion, a P/E ratio of -3.43, a P/E/G ratio of 3.84 and a beta of 1.20. Clarivate has a one year low of $5.19 and a one year high of $10.03.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CLVT. Evermay Wealth Management LLC purchased a new stake in Clarivate in the first quarter valued at $31,000. Montag A & Associates Inc. lifted its holdings in shares of Clarivate by 729.6% in the 4th quarter. Montag A & Associates Inc. now owns 7,732 shares of the company’s stock valued at $72,000 after buying an additional 6,800 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of Clarivate in the 1st quarter valued at about $76,000. Wedmont Private Capital purchased a new stake in shares of Clarivate in the fourth quarter worth about $99,000. Finally, TFO Wealth Partners LLC grew its holdings in Clarivate by 1,590,000.0% during 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. Hedge funds and other institutional investors own 85.72% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group decreased their price target on Clarivate from $8.50 to $7.50 and set a “buy” rating for the company in a research note on Thursday, May 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.78.

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.