What is Leerink Partnrs' Estimate for CLOV FY2024 Earnings?

Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) - Equities researchers at Leerink Partnrs lifted their FY2024 EPS estimates for Clover Health Investments in a report released on Wednesday, November 6th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings of ($0.12) per share for the year, up from their prior estimate of ($0.13). The consensus estimate for Clover Health Investments' current full-year earnings is ($0.12) per share. Leerink Partnrs also issued estimates for Clover Health Investments' Q1 2025 earnings at ($0.03) EPS, Q3 2025 earnings at ($0.01) EPS, Q4 2025 earnings at ($0.06) EPS, FY2025 earnings at ($0.07) EPS, FY2026 earnings at $0.05 EPS, FY2027 earnings at $0.10 EPS and FY2028 earnings at $0.17 EPS.

Separately, UBS Group initiated coverage on 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 Trading Down 3.8 %

Shares of CLOV traded down $0.13 during trading hours on Monday, reaching $3.28. 8,313,953 shares of the company traded hands, compared to its average volume of 8,098,317. The stock's fifty day moving average price is $3.47 and its 200 day moving average price is $2.19. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -17.05 and a beta of 2.03. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.71.

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, beating analysts' consensus estimates 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 26.33%. During the same period in the previous year, the firm earned ($0.09) earnings per share.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. raised its holdings in shares of Clover Health Investments by 18.1% in the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company's stock valued at $3,593,000 after acquiring an additional 692,878 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company's stock worth $3,181,000 after purchasing an additional 485,987 shares in the last quarter. XTX Topco Ltd bought a new position in Clover Health Investments in the second quarter worth about $932,000. AQR Capital Management LLC raised its holdings in Clover Health Investments by 4.6% in the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company's stock worth $898,000 after purchasing an additional 32,288 shares in the last quarter. Finally, Choreo LLC bought a new position in Clover Health Investments in the second quarter worth about $344,000. 19.77% of the stock is currently owned by institutional investors.

About Clover Health Investments

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.