Farther Finance Advisors LLC Grows Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Farther Finance Advisors LLC raised its position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 107,930.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,046 shares of the company's stock after purchasing an additional 161,896 shares during the quarter. Farther Finance Advisors LLC's holdings in Clover Health Investments were worth $582,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Phoenix Financial Ltd. boosted its position in Clover Health Investments by 6.8% in the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock valued at $123,000 after buying an additional 2,500 shares during the period. Rhumbline Advisers increased its position in shares of Clover Health Investments by 80.5% during the first quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock worth $25,000 after acquiring an additional 3,160 shares during the period. Parallax Volatility Advisers L.P. raised its stake in shares of Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after acquiring an additional 6,408 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock valued at $373,000 after purchasing an additional 6,990 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Clover Health Investments by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 351,446 shares of the company's stock valued at $1,107,000 after purchasing an additional 14,068 shares during the period. Institutional investors own 19.77% of the company's stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a report on Monday, March 3rd.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $2.88 on Friday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -14.40 and a beta of 1.91. The firm's 50-day moving average is $3.37 and its two-hundred day moving average is $3.64. Clover Health Investments, Corp. has a 1 year low of $1.01 and a 1 year high of $4.87.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.12. The firm had revenue of $462.33 million during the quarter, compared to analysts' expectations of $466.93 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. On average, equities analysts expect that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

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.

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