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

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

Insiders Place Their Bets

In other news, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $10.48, for a total transaction of $1,048,000.00. Following the completion of the sale, the insider now owns 737,898 shares in the company, valued at approximately $7,733,171.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Clarivate news, Director Andrew Miles Snyder purchased 208,333 shares of the company’s stock in a transaction dated Wednesday, September 14th. The stock was purchased at an average price of $11.61 per share, for a total transaction of $2,418,746.13. Following the transaction, the director now owns 208,333 shares in the company, valued at approximately $2,418,746.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Gordon Samson sold 100,000 shares of Clarivate stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $10.48, for a total value of $1,048,000.00. Following the sale, the insider now owns 737,898 shares of the company’s stock, valued at approximately $7,733,171.04. The disclosure for this sale can be found here. 24.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clarivate

A number of large investors have recently bought and sold shares of CLVT. Clearstead Advisors LLC purchased a new position in shares of Clarivate during the first quarter valued at approximately $25,000. Elequin Capital LP purchased a new stake in shares of Clarivate in the first quarter worth $28,000. Ellevest Inc. grew its stake in shares of Clarivate by 267.5% in the second quarter. Ellevest Inc. now owns 2,624 shares of the company’s stock worth $36,000 after acquiring an additional 1,910 shares during the last quarter. CWM LLC boosted its position in shares of Clarivate by 341.6% during the third quarter. CWM LLC now owns 3,705 shares of the company’s stock valued at $35,000 after buying an additional 2,866 shares during the last quarter. Finally, Wahed Invest LLC purchased a new stake in shares of Clarivate during the second quarter valued at $64,000. 83.42% of the stock is owned by hedge funds and other institutional investors.

Clarivate Price Performance

Shares of Clarivate stock opened at $9.71 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.89 and a quick ratio of 0.89. The business’s 50 day simple moving average is $10.02 and its two-hundred day simple moving average is $12.46. The stock has a market capitalization of $6.55 billion, a P/E ratio of -1.42 and a beta of 0.98. Clarivate has a one year low of $8.00 and a one year high of $25.63.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Morgan Stanley dropped their target price on Clarivate from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, November 9th. The Goldman Sachs Group dropped their target price on Clarivate from $17.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Royal Bank of Canada dropped their target price on Clarivate from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Finally, Wells Fargo & Company dropped their target price on 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.25.

About Clarivate

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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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