JPMorgan Chase & Co. Invests $448,000 in Clover Health Investments, Corp. (NASDAQ:CLOV)

JPMorgan Chase & Co. acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 158,920 shares of the company’s stock, valued at approximately $448,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Clover Health Investments in the 3rd quarter valued at approximately $1,228,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after buying an additional 485,987 shares during the period. State Street Corp lifted its holdings in Clover Health Investments by 65.0% during the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after acquiring an additional 862,621 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Clover Health Investments in the third quarter valued at about $477,000. Finally, Geode Capital Management LLC raised its holdings in Clover Health Investments by 21.9% during the 3rd quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock worth $13,622,000 after buying an additional 868,501 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

CLOV opened at $4.59 on Wednesday. The company has a market capitalization of $2.30 billion, a PE ratio of -22.95 and a beta of 1.95. The business has a fifty day simple moving average of $3.51 and a 200 day simple moving average of $3.15. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.87.

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

Analyst Upgrades and Downgrades

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

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.