Wilmington Savings Fund Society FSB Makes New Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,397 shares of the company’s stock, valued at approximately $105,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CLOV. Forum Financial Management LP grew its holdings in shares of Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company’s stock valued at $45,000 after buying an additional 4,061 shares in the last quarter. Bleakley Financial Group LLC boosted its position in Clover Health Investments by 98.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock worth $57,000 after acquiring an additional 9,988 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Clover Health Investments during the 3rd quarter valued at about $28,000. Sigma Planning Corp purchased a new stake in shares of Clover Health Investments in the third quarter worth approximately $29,000. Finally, SignalPoint Asset Management LLC boosted its holdings in shares of Clover Health Investments by 8.1% during the third quarter. SignalPoint Asset Management LLC now owns 150,684 shares of the company’s stock worth $425,000 after purchasing an additional 11,318 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $3.23 on Friday. The business has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $2.67. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.71. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -16.15 and a beta of 1.94.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.02) EPS for the quarter, topping 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 period in the previous year, the firm posted ($0.09) earnings per share. On average, analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on CLOV shares. UBS Group started coverage on shares of Clover Health Investments in a research note on Monday, October 7th. They issued a “neutral” rating and a $4.00 price objective on the stock. Craig Hallum began coverage on Clover Health Investments in a report on Tuesday. They set a “buy” rating and a $6.00 price objective for the company.

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.