Point72 Asset Management L.P. Acquires Shares of 260,650 Clover Health Investments, Corp. (NASDAQ:CLOV)

Point72 Asset Management L.P. acquired a new position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 260,650 shares of the company's stock, valued at approximately $735,000. Point72 Asset Management L.P. owned 0.05% of Clover Health Investments at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLOV. Parallax Volatility Advisers L.P. purchased a new stake in Clover Health Investments during the 3rd quarter worth $38,000. Janus Henderson Group PLC acquired a new position in shares of Clover Health Investments during the third quarter worth about $477,000. HighTower Advisors LLC purchased a new stake in shares of Clover Health Investments in the third quarter worth about $97,000. Verition Fund Management LLC acquired a new stake in shares of Clover Health Investments in the third quarter valued at about $411,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at about $1,228,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Analysts Set New Price Targets

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

Clover Health Investments Price Performance

Clover Health Investments stock traded down $0.12 during midday trading on Thursday, hitting $3.00. 5,347,232 shares of the stock were exchanged, compared to its average volume of 7,804,509. 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 $3.67 and a two-hundred day moving average price of $2.58. The firm has a market cap of $1.50 billion, a P/E ratio of -15.00 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.01. The company had revenue of $330.99 million for the quarter, compared to the consensus estimate of $347.60 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. During the same quarter last year, the business posted ($0.09) EPS. As a group, analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current 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.