Quadrature Capital Ltd Lowers Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Quadrature Capital Ltd trimmed its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 87.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,501 shares of the company's stock after selling 305,800 shares during the period. Quadrature Capital Ltd's holdings in Clover Health Investments were worth $125,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new position in shares of Clover Health Investments during the third quarter valued at about $735,000. Parallax Volatility Advisers L.P. bought a new position in Clover Health Investments during the 3rd quarter valued at approximately $38,000. Janus Henderson Group PLC purchased a new stake in shares of Clover Health Investments in the third quarter worth $477,000. HighTower Advisors LLC bought a new position in Clover Health Investments in the 3rd quarter worth about $97,000. Finally, Verition Fund Management LLC purchased a new stake in Clover Health Investments during the 3rd quarter valued at about $411,000. Institutional investors own 19.77% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on Clover Health Investments in a research report on Monday, October 7th. They issued a "neutral" rating and a $4.00 target price for the company.

Clover Health Investments Trading Down 3.8 %

Clover Health Investments stock traded down $0.12 during midday trading on Thursday, hitting $3.00. The stock had a trading volume of 5,347,232 shares, compared to its average volume of 7,804,509. Clover Health Investments, Corp. has a 52-week low of $0.61 and a 52-week high of $4.71. The company has a market capitalization of $1.50 billion, a PE ratio of -15.00 and a beta of 1.94. The firm's fifty day moving average is $3.67 and its two-hundred day moving average is $2.58.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $330.99 million for the quarter, compared to analysts' expectations of $347.60 million. During the same period in the previous year, the firm posted ($0.09) earnings per share. As a group, equities research analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Clover Health Investments 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.