Graypoint LLC Makes New $632,000 Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

Graypoint LLC bought a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,617 shares of the company's stock, valued at approximately $632,000.

Several other institutional investors also recently bought and sold shares of CLOV. Concurrent Investment Advisors LLC acquired a new stake in Clover Health Investments in the 3rd quarter worth approximately $28,000. Sigma Planning Corp purchased a new position in shares of Clover Health Investments in the third quarter worth $29,000. Parallax Volatility Advisers L.P. acquired a new stake in shares of Clover Health Investments during the third quarter worth $38,000. Realta Investment Advisors purchased a new stake in shares of Clover Health Investments during the third quarter valued at $44,000. Finally, Forum Financial Management LP increased its holdings in shares of Clover Health Investments by 33.8% in the third quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock valued at $45,000 after purchasing an additional 4,061 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLOV. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday, December 17th. They issued a "buy" rating and a $6.00 target price on the stock. UBS Group assumed coverage on shares of Clover Health Investments in a report on Monday, October 7th. They issued a "neutral" rating and a $4.00 price objective on the stock.

Clover Health Investments Price Performance

Shares of CLOV remained flat at $3.64 during mid-day trading on Friday. The stock had a trading volume of 4,782,417 shares, compared to its average volume of 5,607,603. The firm has a market capitalization of $1.82 billion, a PE ratio of -18.20 and a beta of 1.95. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.71. The company has a 50-day moving average price of $3.37 and a 200 day moving average price of $2.93.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its 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 firm had revenue of $330.99 million during 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 period in the previous year, the firm earned ($0.09) EPS. Analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

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.