Jupiter Asset Management Ltd. Takes Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Jupiter Asset Management Ltd. acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 139,009 shares of the company's stock, valued at approximately $499,000.

A number of other hedge funds also recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Clover Health Investments by 80.5% in the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock valued at $25,000 after purchasing an additional 3,160 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Clover Health Investments during the 1st quarter valued at about $36,000. Triumph Capital Management bought a new position in Clover Health Investments during the 4th quarter valued at about $45,000. Parallax Volatility Advisers L.P. boosted its position in Clover Health Investments by 47.7% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after buying an additional 6,408 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in Clover Health Investments during the fourth quarter worth about $73,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Clover Health Investments Trading Up 3.6%

NASDAQ CLOV opened at $2.88 on Tuesday. Clover Health Investments, Corp. has a 1-year low of $1.50 and a 1-year high of $4.87. The company has a 50 day moving average of $2.96 and a 200-day moving average of $3.52. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -57.60 and a beta of 1.91.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative return on equity of 7.42% and a negative net margin of 1.69%. The firm had revenue of $462.33 million during the quarter, compared to analysts' expectations of $466.93 million. On average, analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Insider Activity at Clover Health Investments

In other news, CEO Conrad Wai sold 91,197 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total value of $302,774.04. Following the completion of the sale, the chief executive officer directly owned 1,403,701 shares in the company, valued at approximately $4,660,287.32. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 24.07% of the company's stock.

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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