Foundations Investment Advisors LLC Invests $55,000 in Clover Health Investments, Corp. (NASDAQ:CLOV)

Foundations Investment Advisors LLC purchased a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,547 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jupiter Asset Management Ltd. grew its holdings in Clover Health Investments by 18.1% in the 1st quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock valued at $3,593,000 after buying an additional 692,878 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Clover Health Investments during the 2nd quarter worth $932,000. AQR Capital Management LLC boosted its position in shares of Clover Health Investments by 4.6% during the 2nd quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock valued at $898,000 after acquiring an additional 32,288 shares during the last quarter. Choreo LLC purchased a new stake in shares of Clover Health Investments in the second quarter valued at about $344,000. Finally, Bayesian Capital Management LP acquired a new stake in Clover Health Investments during the first quarter worth about $142,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

CLOV opened at $3.92 on Monday. The stock has a market capitalization of $1.95 billion, a PE ratio of -14.52 and a beta of 2.13. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.71. The business’s 50 day moving average price is $3.29 and its 200 day moving average price is $1.95.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $356.26 million for the quarter, compared to analyst estimates of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same quarter in the prior year, the company posted ($0.06) EPS. As a group, equities research analysts forecast that Clover Health Investments, Corp. will post -0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock.

About Clover Health Investments

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.