UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.23 Million Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) during the 3rd quarter, HoldingsChannel reports. The fund purchased 435,576 shares of the company’s stock, valued at approximately $1,228,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Forum Financial Management LP grew its position in shares of Clover Health Investments by 33.8% in the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after purchasing an additional 4,061 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in Clover Health Investments by 98.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock valued at $57,000 after buying an additional 9,988 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in shares of Clover Health Investments during the third quarter valued at about $28,000. Sigma Planning Corp purchased a new position in Clover Health Investments during the third quarter valued at approximately $29,000. Finally, SignalPoint Asset Management LLC grew its position in Clover Health Investments by 8.1% during the third quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock worth $425,000 after buying an additional 11,318 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CLOV shares. UBS Group assumed coverage on Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price on the stock. Craig Hallum began coverage on Clover Health Investments in a research note on Tuesday. They issued a “buy” rating and a $6.00 target price on the stock.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $3.21 on Wednesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -16.05 and a beta of 1.94. The firm has a fifty day moving average price of $3.63 and a 200-day moving average price of $2.65. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.71.

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