JPMorgan Chase & Co. Purchases New Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

JPMorgan Chase & Co. acquired a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 158,920 shares of the company's stock, valued at approximately $448,000.

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

Analyst Upgrades and Downgrades

CLOV has been the topic of several recent analyst reports. Craig Hallum initiated coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a "buy" rating and a $6.00 target price on the stock. UBS Group began 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 for the company.

Clover Health Investments Stock Down 0.9 %

Shares of NASDAQ:CLOV traded down $0.04 on Friday, hitting $4.39. 4,855,971 shares of the company traded hands, compared to its average volume of 6,508,827. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.87. The stock has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $3.21. The company has a market cap of $2.20 billion, a PE ratio of -21.95 and a beta of 1.95.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced 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. The company had revenue of $330.99 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.09) earnings per share. As a group, sell-side 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.