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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 435,576 shares of the company’s stock, valued at approximately $1,228,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.09% of Clover Health Investments at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. XTX Topco Ltd acquired a new position in Clover Health Investments in the 2nd quarter worth about $932,000. Connor Clark & Lunn Investment Management Ltd. increased 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 purchasing an additional 485,987 shares during the period. Choreo LLC acquired a new position in shares of Clover Health Investments in the 2nd quarter worth approximately $344,000. Squarepoint Ops LLC grew its position in shares of Clover Health Investments by 220.7% during the 2nd quarter. Squarepoint Ops LLC now owns 130,352 shares of the company’s stock worth $160,000 after buying an additional 238,329 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Clover Health Investments in the second quarter worth $203,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Up 2.9 %

Shares of NASDAQ:CLOV opened at $3.21 on Wednesday. The business’s 50 day moving average is $3.63 and its 200 day moving average is $2.65. Clover Health Investments, Corp. has a 12-month low of $0.61 and a 12-month high of $4.71. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -16.05 and a beta of 1.94.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CLOV. Craig Hallum assumed coverage on Clover Health Investments in a report on Tuesday. They issued a “buy” rating and a $6.00 price target on the stock. UBS Group assumed coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective 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.