Renaissance Technologies LLC Reduces Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Renaissance Technologies LLC reduced its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,272,300 shares of the company’s stock after selling 124,300 shares during the period. Renaissance Technologies LLC owned about 2.27% of Clover Health Investments worth $13,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CLOV. Jupiter Asset Management Ltd. raised its holdings in Clover Health Investments by 18.1% during 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 during the last quarter. Jump Financial LLC purchased a new position in shares of Clover Health Investments in the fourth quarter valued at about $125,000. Choreo LLC bought a new position in shares of Clover Health Investments during the second quarter valued at about $344,000. SignalPoint Asset Management LLC boosted its holdings in shares of Clover Health Investments by 40.3% during the first quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock worth $111,000 after purchasing an additional 40,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Clover Health Investments by 151.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock worth $62,000 after purchasing an additional 46,912 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

NASDAQ CLOV opened at $2.91 on Monday. The stock has a market cap of $1.44 billion, a P/E ratio of -8.56 and a beta of 2.13. Clover Health Investments, Corp. has a fifty-two week low of $0.61 and a fifty-two week high of $3.82. The stock has a 50 day simple moving average of $2.40 and a two-hundred day simple moving average of $1.45.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. The company had revenue of $356.26 million during the quarter, compared to analyst estimates of $338.70 million. During the same quarter last year, the firm posted ($0.06) earnings per share. Sell-side analysts predict that Clover Health Investments, Corp. will post -0.13 earnings per share for the current year.

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.