State Street Corp Purchases 862,621 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

State Street Corp lifted its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 65.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,189,380 shares of the company's stock after purchasing an additional 862,621 shares during the quarter. State Street Corp owned 0.44% of Clover Health Investments worth $6,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group assumed coverage on Clover Health Investments in a research note on Monday, October 7th. They set a "neutral" rating and a $4.00 price target for the company. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a "buy" rating and a $6.00 price objective on the stock.

Clover Health Investments Price Performance

Shares of CLOV stock traded down $0.05 on Friday, hitting $3.26. The company's stock had a trading volume of 4,443,061 shares, compared to its average volume of 4,184,255. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -16.30 and a beta of 1.94. Clover Health Investments, Corp. has a fifty-two week low of $0.61 and a fifty-two week high of $4.71. The firm's fifty day moving average price is $3.49 and its 200-day moving average price is $2.77.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates 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 period last year, the company earned ($0.09) earnings per share. Analysts predict that Clover Health Investments, Corp. will post -0.12 EPS 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.