GSA Capital Partners LLP Trims Stock Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

GSA Capital Partners LLP cut its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 60.6% in the third quarter, HoldingsChannel reports. The firm owned 359,392 shares of the company’s stock after selling 553,674 shares during the period. GSA Capital Partners LLP’s holdings in Clover Health Investments were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CLOV. Forum Financial Management LP raised its stake in shares of Clover Health Investments by 33.8% during the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after buying an additional 4,061 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Clover Health Investments by 98.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock worth $57,000 after purchasing an additional 9,988 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $28,000. Sigma Planning Corp purchased a new stake in Clover Health Investments during the third quarter worth $29,000. Finally, SignalPoint Asset Management LLC grew its position in Clover Health Investments by 8.1% during the third quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock valued at $425,000 after buying an additional 11,318 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.04 on Friday. The stock has a market capitalization of $1.51 billion, a PE ratio of -15.20 and a beta of 2.03. The business has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $2.26. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.71.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The company had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same quarter in the previous year, the firm earned ($0.09) EPS. On average, equities research analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They set a “neutral” rating and a $4.00 target price on the stock.

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.