Short Interest in Clarivate Plc (NYSE:CLVT) Decreases By 8.6%

Clarivate Plc (NYSE:CLVTGet Rating) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 28,550,000 shares, a decline of 8.6% from the October 15th total of 31,220,000 shares. Based on an average daily trading volume, of 7,470,000 shares, the short-interest ratio is presently 3.8 days. Currently, 6.7% of the shares of the company are short sold.

Insider Buying and Selling

In other Clarivate news, Director Andrew Miles Snyder acquired 208,333 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was purchased at an average price of $11.61 per share, with a total value of $2,418,746.13. Following the acquisition, the director now directly owns 208,333 shares of the company’s stock, valued at approximately $2,418,746.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Farallon Capital Management LLC lifted its stake in Clarivate by 65.1% during the 3rd quarter. Farallon Capital Management LLC now owns 40,546,300 shares of the company’s stock valued at $380,730,000 after acquiring an additional 15,988,500 shares during the period. Massachusetts Financial Services Co. MA increased its position in Clarivate by 3.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 28,801,178 shares of the company’s stock valued at $482,708,000 after acquiring an additional 880,590 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Clarivate by 1.3% in the third quarter. BlackRock Inc. now owns 24,170,785 shares of the company’s stock worth $226,964,000 after purchasing an additional 319,618 shares during the last quarter. Clarkston Capital Partners LLC lifted its stake in Clarivate by 67.2% in the second quarter. Clarkston Capital Partners LLC now owns 18,155,475 shares of the company’s stock worth $251,635,000 after acquiring an additional 7,295,534 shares during the period. Finally, State Street Corp lifted its stake in Clarivate by 10.0% in the first quarter. State Street Corp now owns 11,090,387 shares of the company’s stock worth $185,875,000 after acquiring an additional 1,011,303 shares during the period. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CLVT shares. The Goldman Sachs Group cut their price target on shares of Clarivate from $17.00 to $14.50 and set a “buy” rating for the company in a report on Wednesday, November 9th. Royal Bank of Canada cut their price target on shares of Clarivate from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 9th. Morgan Stanley lowered their price objective on shares of Clarivate from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. Finally, Wells Fargo & Company decreased their price target on shares of Clarivate from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.25.

Clarivate Price Performance

CLVT stock opened at $10.52 on Wednesday. Clarivate has a 12 month low of $8.00 and a 12 month high of $25.63. The firm has a market capitalization of $7.09 billion, a P/E ratio of -1.54 and a beta of 0.98. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $10.13 and a 200-day moving average of $12.54.

Clarivate Company Profile

(Get Rating)

Clarivate Plc, an information services and analytics company, provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands. It offers Web of Science products and services, such as Web of Science, InCites, Journal Citation Reports, EndNote, ScholarOne, Converis, Publons, and Kopernio to organizations that plan, fund, implement, and utilize research; and Life Sciences products, including Cortellis and Newport Integrity for pharmaceutical and biotechnology companies to support research, market intelligence, and competitive monitoring in connection with the development and commercialization of new drugs.

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