Vanguard Group Inc. Acquires 425,904 Shares of Clover Health Investments, Corp. $CLOV

Vanguard Group Inc. grew its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,485,912 shares of the company’s stock after acquiring an additional 425,904 shares during the quarter. Vanguard Group Inc. owned 4.55% of Clover Health Investments worth $55,192,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Divisadero Street Capital Management LP bought a new stake in shares of Clover Health Investments in the third quarter valued at about $8,470,000. Principal Financial Group Inc. boosted its position in shares of Clover Health Investments by 1,590.3% in the third quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after acquiring an additional 456,715 shares during the period. Cambria Investment Management L.P. boosted its position in shares of Clover Health Investments by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 144,386 shares of the company’s stock valued at $442,000 after acquiring an additional 28,872 shares during the period. Consolidated Portfolio Review Corp boosted its position in shares of Clover Health Investments by 178.0% in the third quarter. Consolidated Portfolio Review Corp now owns 104,442 shares of the company’s stock valued at $320,000 after acquiring an additional 66,868 shares during the period. Finally, 111 Capital bought a new stake in shares of Clover Health Investments in the third quarter valued at about $42,000. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CLOV shares. Leerink Partners reduced their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Canaccord Genuity Group reduced their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Clover Health Investments presently has a consensus rating of “Hold” and an average price target of $2.90.

Insider Buying and Selling

In related news, CEO Brady Patrick Priest sold 175,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer owned 1,998,584 shares of the company’s stock, valued at $4,336,927.28. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.51% of the stock is currently owned by company insiders.

Clover Health Investments Stock Down 0.6%

CLOV stock opened at $3.47 on Friday. The company has a market cap of $1.83 billion, a PE ratio of -28.91 and a beta of 2.44. The business has a 50-day simple moving average of $2.24 and a 200 day simple moving average of $2.41. Clover Health Investments, Corp. has a 52 week low of $1.58 and a 52 week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. On average, analysts anticipate that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.