Charles Schwab Investment Management Inc. Acquires 150,550 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Charles Schwab Investment Management Inc. boosted its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,000,505 shares of the company’s stock after buying an additional 150,550 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Clover Health Investments were worth $8,461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new stake in Clover Health Investments during the 3rd quarter valued at $28,000. Sigma Planning Corp purchased a new stake in Clover Health Investments during the 3rd quarter valued at $29,000. Realta Investment Advisors purchased a new stake in Clover Health Investments during the 3rd quarter valued at $44,000. Forum Financial Management LP raised its stake in 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. Finally, KBC Group NV purchased a new stake in Clover Health Investments during the 3rd quarter valued at $53,000. 19.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, UBS Group initiated 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 for the company.

Clover Health Investments Price Performance

NASDAQ:CLOV opened at $3.17 on Wednesday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -16.25 and a beta of 1.94. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.71. The business has a fifty day moving average price of $3.69 and a 200-day moving average price of $2.56.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.01. The firm had revenue of $330.99 million during the quarter, compared to analyst estimates of $347.60 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities research 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.