Wedbush Securities Inc. Boosts Stock Position in Clover Health Investments, Corp. $CLOV

Wedbush Securities Inc. boosted its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 119.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,000 shares of the company’s stock after purchasing an additional 25,000 shares during the quarter. Wedbush Securities Inc.’s holdings in Clover Health Investments were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Clover Health Investments by 704.2% in the first quarter. Victory Capital Management Inc. now owns 375,336 shares of the company’s stock valued at $1,347,000 after acquiring an additional 328,665 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Clover Health Investments by 34.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 57,787 shares of the company’s stock worth $207,000 after purchasing an additional 14,958 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Clover Health Investments in the 1st quarter worth $100,000. TradeLink Capital LLC purchased a new position in Clover Health Investments during the 1st quarter worth $110,000. Finally, Jupiter Asset Management Ltd. acquired a new position in Clover Health Investments during the 1st quarter valued at about $499,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, October 8th. Leerink Partners set a $3.00 target price on shares of Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Zacks Research raised shares of Clover Health Investments from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Finally, UBS Group lowered their price objective on shares of Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.93.

Clover Health Investments Price Performance

CLOV stock opened at $2.47 on Friday. The company has a market capitalization of $1.27 billion, a P/E ratio of -22.45 and a beta of 2.07. Clover Health Investments, Corp. has a 12 month low of $2.12 and a 12 month high of $4.87. The firm’s fifty day simple moving average is $3.00 and its 200-day simple moving average is $2.98.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). The business had revenue of $496.65 million for the quarter, compared to analyst estimates of $467.18 million. Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. As a group, sell-side analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Clover Health Investments Company 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.