Connor Clark & Lunn Investment Management Ltd. Raises Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 75.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,128,171 shares of the company's stock after buying an additional 485,987 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Clover Health Investments worth $3,181,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Concurrent Investment Advisors LLC acquired a new position in Clover Health Investments during the 3rd quarter valued at about $28,000. Sigma Planning Corp purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $29,000. Realta Investment Advisors bought a new stake in Clover Health Investments during the third quarter worth $44,000. Forum Financial Management LP raised its position in Clover Health Investments by 33.8% in the 3rd quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock valued at $45,000 after buying an additional 4,061 shares during the last quarter. Finally, KBC Group NV purchased a new position in Clover Health Investments during the 3rd quarter worth $53,000. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Trading Up 3.6 %

Shares of CLOV stock traded up $0.12 during trading on Monday, hitting $3.49. The company's stock had a trading volume of 5,629,910 shares, compared to its average volume of 8,000,201. The company has a market cap of $1.75 billion, a PE ratio of -17.45 and a beta of 2.03. The business has a fifty day moving average of $3.59 and a 200-day moving average of $2.39. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.71.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $347.60 million. During the same quarter in the prior year, the company earned ($0.09) EPS. As a group, research analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Analyst Ratings Changes

Separately, UBS Group assumed coverage on shares of Clover Health Investments in a research report on Monday, October 7th. They set a "neutral" rating and a $4.00 price target on the stock.

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.