State Street Corp Acquires 862,621 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

State Street Corp increased its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 65.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,189,380 shares of the company’s stock after purchasing an additional 862,621 shares during the period. State Street Corp owned 0.44% of Clover Health Investments worth $6,174,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new stake in Clover Health Investments during the third quarter worth $28,000. Sigma Planning Corp purchased a new stake in shares of Clover Health Investments during the 3rd quarter worth $29,000. Parallax Volatility Advisers L.P. purchased a new stake in shares of Clover Health Investments during the 3rd quarter worth $38,000. Vanguard Personalized Indexing Management LLC boosted its position in Clover Health Investments by 54.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after purchasing an additional 12,104 shares in the last quarter. Finally, Realta Investment Advisors purchased a new position in Clover Health Investments in the third quarter valued at about $44,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Trading Down 1.5 %

Shares of Clover Health Investments stock opened at $3.26 on Friday. Clover Health Investments, Corp. has a 12-month low of $0.61 and a 12-month high of $4.71. The firm’s 50 day simple moving average is $3.49 and its two-hundred day simple moving average is $2.76. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -16.30 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV) last posted 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. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The business had revenue of $330.99 million for the quarter, compared to the consensus estimate of $347.60 million. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, sell-side analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Craig Hallum initiated coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target on the stock. UBS Group initiated coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 target price for the company.

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.