HighTower Advisors LLC Purchases Shares of 34,363 Clover Health Investments, Corp. (NASDAQ:CLOV)

HighTower Advisors LLC acquired a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,363 shares of the company’s stock, valued at approximately $97,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verition Fund Management LLC acquired a new stake in Clover Health Investments during the 3rd quarter valued at approximately $411,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at $1,228,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Clover Health Investments during the third quarter worth $271,000. Charles Schwab Investment Management Inc. raised its stake in Clover Health Investments by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock worth $8,461,000 after buying an additional 150,550 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock valued at $3,181,000 after buying an additional 485,987 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Craig Hallum initiated coverage on Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company. UBS Group initiated coverage on Clover Health Investments in a research report on Monday, October 7th. They set a “neutral” rating and a $4.00 target price on the stock.

Clover Health Investments Stock Up 3.8 %

NASDAQ:CLOV opened at $3.31 on Friday. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.71. The company has a fifty day moving average of $3.51 and a 200-day moving average of $2.73. The firm has a market capitalization of $1.66 billion, a P/E ratio of -16.55 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The firm had revenue of $330.99 million during the quarter, compared to the consensus estimate of $347.60 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. During the same period in the previous year, the firm posted ($0.09) earnings per share. On average, analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS 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.