Clarivate Plc (NYSE:CLVT) Short Interest Update

Clarivate Plc (NYSE:CLVT – Get Rating) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 30,890,000 shares, a decline of 7.2% from the February 13th total of 33,270,000 shares. Based on an average trading volume of 6,500,000 shares, the short-interest ratio is currently 4.8 days. Approximately 7.6% of the company’s shares are sold short.

Institutional Trading of Clarivate

A number of institutional investors have recently made changes to their positions in the stock. Exor N.V. bought a new position in shares of Clarivate during the fourth quarter valued at $138,994,000. Farallon Capital Management LLC boosted its holdings 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. Clarkston Capital Partners LLC raised its stake in shares of Clarivate by 86.1% during the third quarter. Clarkston Capital Partners LLC now owns 33,781,635 shares of the company’s stock valued at $317,210,000 after acquiring an additional 15,626,160 shares in the last quarter. Elliott Investment Management L.P. bought a new position in Clarivate in the third quarter worth approximately $93,900,000. Finally, Norges Bank acquired a new stake in Clarivate in the fourth quarter valued at approximately $64,910,000. Hedge funds and other institutional investors own 87.34% of the company’s stock.

Clarivate Stock Performance

Shares of NYSE:CLVT traded down $0.02 during mid-day trading on Friday, reaching $9.77. The company had a trading volume of 3,266,315 shares, compared to its average volume of 6,617,845. Clarivate has a one year low of $7.85 and a one year high of $17.50. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of -1.58 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $10.60 and its 200-day moving average price is $10.06.

Analysts Set New Price Targets

A number of brokerages recently commented on CLVT. Bank of America initiated coverage on Clarivate in a report on Wednesday. They issued a “neutral” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $14.00 price objective on shares of Clarivate in a report on Friday, March 10th. TheStreet downgraded shares of Clarivate from a “c-” rating to a “d” rating in a report on Monday, November 21st. Morgan Stanley cut Clarivate from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $11.00 to $12.00 in a research report on Monday, February 6th. Finally, Wells Fargo & Company boosted their target price on Clarivate from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, March 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $13.88.

About Clarivate

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Clarivate Plc engages in the provision of global information, analytics and workflow solutions. It operates through the Science and Intellectual Property segments. The Science segment is composed of the academia and government, and life science and healthcare product lines. The Intellectual Property segment includes the patent, trademark, domain, and IP management product lines.