Graypoint LLC Acquires Shares of 200,617 Clover Health Investments, Corp. (NASDAQ:CLOV)

Graypoint LLC bought a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 200,617 shares of the company’s stock, valued at approximately $632,000.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in Clover Health Investments by 21.9% during the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock worth $13,622,000 after buying an additional 868,501 shares during the last quarter. State Street Corp boosted its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after acquiring an additional 862,621 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Clover Health Investments in the second quarter valued at about $932,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Clover Health Investments by 75.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after purchasing an additional 485,987 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Clover Health Investments during the third quarter worth about $1,228,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLOV shares. Craig Hallum initiated coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company. UBS Group assumed coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock.

Clover Health Investments Price Performance

Shares of CLOV opened at $3.64 on Friday. The firm has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $2.92. The stock has a market cap of $1.82 billion, a PE ratio of -18.20 and a beta of 1.95. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The company had revenue of $330.99 million for the quarter, compared to analyst estimates of $347.60 million. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, sell-side analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Clover Health Investments Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.