2,768,088 Shares in Clover Health Investments, Corp. $CLOV Purchased by Divisadero Street Capital Management LP

Key Points

• Divisadero Street Capital Management LP bought a new stake of 2,768,088 shares in Clover Health (NASDAQ:CLOV) in Q3, valued at about $8.47 million and representing roughly 0.54% ownership.
• CEO Brady Patrick Priest sold 175,000 shares on March 4 at an average price of $2.17 (≈$379,750), reducing his stake by 8.05%; company insiders now own 24.07% of the stock.
• Clover missed Q4 EPS (−$0.10 vs. consensus −$0.05) though revenue of $487.71M beat estimates, and analysts hold an average "Hold" rating with a $3.07 consensus price target.

Divisadero Street Capital Management LP bought a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,768,088 shares of the company's stock, valued at approximately $8,470,000. Divisadero Street Capital Management LP owned approximately 0.54% of Clover Health Investments as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Alteri Wealth LLC acquired a new stake in shares of Clover Health Investments in the 2nd quarter worth approximately $30,000. Envestnet Asset Management Inc. bought a new position in shares of Clover Health Investments in the second quarter valued at approximately $31,000. Lido Advisors LLC acquired a new position in shares of Clover Health Investments during the second quarter valued at approximately $32,000. Integrated Wealth Concepts LLC bought a new stake in Clover Health Investments during the first quarter worth approximately $37,000. Finally, 111 Capital bought a new stake in Clover Health Investments during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CLOV shares. Leerink Partners decreased their price target on Clover Health Investments from $3.00 to $2.50 and set a "market perform" rating for the company in a research note on Thursday, March 5th. Weiss Ratings restated a "sell (d-)" rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $3.70 target price on shares of Clover Health Investments in a research note on Tuesday, January 20th. Wall Street Zen raised Clover Health Investments from a "sell" rating to a "hold" rating in a report on Sunday, February 15th. Finally, Zacks Research cut shares of Clover Health Investments from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 24th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $3.07.

Insider Activity

In other news, CEO Brady Patrick Priest sold 175,000 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the sale, the chief executive officer directly owned 1,998,584 shares of the company's stock, valued at $4,336,927.28. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 24.07% of the stock is owned by company insiders.

Clover Health Investments Stock Performance

Shares of NASDAQ:CLOV opened at $1.98 on Monday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -11.65 and a beta of 2.15. Clover Health Investments, Corp. has a 1-year low of $1.92 and a 1-year high of $3.92. The company has a 50 day moving average price of $2.25 and a 200 day moving average price of $2.59.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The company had revenue of $487.71 million during the quarter, compared to the consensus estimate of $467.06 million. On average, sell-side analysts expect that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

About Clover Health Investments

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover's offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.

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