Verition Fund Management LLC Invests $411,000 in Clover Health Investments, Corp. (NASDAQ:CLOV)

Verition Fund Management LLC bought a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 145,800 shares of the company’s stock, valued at approximately $411,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLOV. Concurrent Investment Advisors LLC bought a new stake in Clover Health Investments in the 3rd quarter valued at $28,000. Sigma Planning Corp bought a new stake in Clover Health Investments in the 3rd quarter valued at $29,000. Viewpoint Capital Management LLC raised its holdings in Clover Health Investments by 96.8% in the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock valued at $38,000 after acquiring an additional 15,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Clover Health Investments by 54.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares in the last quarter. Finally, Realta Investment Advisors acquired a new stake in shares of Clover Health Investments during the 3rd quarter worth $44,000. 19.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Clover Health Investments Trading Down 3.8 %

Clover Health Investments stock opened at $3.00 on Friday. The company has a market capitalization of $1.50 billion, a PE ratio of -15.00 and a beta of 1.94. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.71. The stock has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $2.58.

Clover Health Investments (NASDAQ:CLOV) last issued 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 company had revenue of $330.99 million during 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 quarter in the prior year, the firm posted ($0.09) earnings per share. As a group, analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share 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.