Integrated Quantitative Investments LLC Takes Position in Clover Health Investments, Corp. $CLOV

Integrated Quantitative Investments LLC purchased a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 275,781 shares of the company’s stock, valued at approximately $769,000.

Several other large investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Clover Health Investments by 704.2% in the 1st quarter. Victory Capital Management Inc. now owns 375,336 shares of the company’s stock valued at $1,347,000 after purchasing an additional 328,665 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Clover Health Investments by 34.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 57,787 shares of the company’s stock valued at $207,000 after buying an additional 14,958 shares during the period. Wedbush Securities Inc. lifted its position in Clover Health Investments by 110.0% in the first quarter. Wedbush Securities Inc. now owns 21,000 shares of the company’s stock worth $75,000 after buying an additional 11,000 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in Clover Health Investments during the first quarter worth $100,000. Finally, TradeLink Capital LLC bought a new position in Clover Health Investments during the first quarter valued at $110,000. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Stock Performance

Shares of CLOV stock opened at $2.47 on Monday. Clover Health Investments, Corp. has a twelve month low of $2.12 and a twelve month high of $4.87. The stock has a fifty day simple moving average of $2.99 and a two-hundred day simple moving average of $2.97. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -22.45 and a beta of 2.07.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.07). Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. The firm had revenue of $496.65 million during the quarter, compared to the consensus estimate of $467.18 million. Research analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CLOV. Zacks Research upgraded shares of Clover Health Investments from a “hold” rating to a “strong-buy” rating in a report on Friday, October 24th. Wall Street Zen lowered shares of Clover Health Investments from a “hold” rating to a “sell” rating in a research report on Saturday. Leerink Partners set a $3.00 target price on Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st. UBS Group cut their target price on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.93.

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.