Thoroughbred Financial Services LLC Sells 50,890 Shares of Clover Health Investments, Corp. $CLOV

Thoroughbred Financial Services LLC lowered its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 50.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,950 shares of the company’s stock after selling 50,890 shares during the period. Thoroughbred Financial Services LLC’s holdings in Clover Health Investments were worth $139,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in Clover Health Investments in the second quarter worth $28,000. Clarity Wealth Advisors LLC purchased a new position in Clover Health Investments during the second quarter valued at $28,000. Envestnet Asset Management Inc. bought a new stake in shares of Clover Health Investments during the 2nd quarter valued at $31,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Clover Health Investments in the 1st quarter worth about $37,000. Finally, Amalgamated Bank purchased a new stake in shares of Clover Health Investments in the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock opened at $2.35 on Wednesday. The company has a 50-day simple moving average of $2.97 and a two-hundred day simple moving average of $2.95. The stock has a market capitalization of $1.21 billion, a PE ratio of -21.36 and a beta of 2.07. Clover Health Investments, Corp. has a 52-week low of $2.12 and a 52-week high of $4.87.

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