Vanguard Group Inc. Has $55.19 Million Stake in Clover Health Investments, Corp. $CLOV

Vanguard Group Inc. grew its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 23,485,912 shares of the company’s stock after buying an additional 425,904 shares during the period. Vanguard Group Inc.’s holdings in Clover Health Investments were worth $55,192,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Bank of America Corp DE raised its stake in Clover Health Investments by 217.5% during the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after acquiring an additional 2,748,783 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in Clover Health Investments during the third quarter worth about $8,470,000. UBS Group AG raised its stake in Clover Health Investments by 155.5% during the third quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after acquiring an additional 1,388,761 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Clover Health Investments by 199.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,140,282 shares of the company’s stock worth $6,551,000 after acquiring an additional 1,425,391 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Clover Health Investments during the second quarter worth about $4,149,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Insider Activity

In other news, CEO Brady Patrick Priest sold 175,000 shares of the company’s stock in a transaction that occurred on 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. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 23.51% of the stock is owned by corporate insiders.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.47 on Friday. The business has a 50 day moving average of $2.24 and a 200-day moving average of $2.41. Clover Health Investments, Corp. has a 1 year low of $1.58 and a 1 year high of $3.92. The company has a market capitalization of $1.83 billion, a P/E ratio of -28.91 and a beta of 2.44.

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

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Leerink Partners lowered their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday, March 5th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Canaccord Genuity Group lowered their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.90.

Clover Health Investments 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.