UBS Group AG Sells 966,789 Shares of Clover Health Investments, Corp. $CLOV

Key Points

• UBS Group AG cut its stake in Clover Health Investments by 42.4% in the fourth quarter, selling 966,789 shares and leaving it with 1,315,324 shares valued at about $3.09 million.
• Other institutional investors also adjusted positions in CLOV, with firms like Vanguard and Bank of America increasing holdings; overall, institutions own 19.77% of the company.
• Clover Health reported quarterly EPS of $0.05, missing estimates, while revenue of $749.19 million topped expectations. The stock also has a Hold consensus rating with a target price of $2.90.

UBS Group AG lowered its position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,315,324 shares of the company's stock after selling 966,789 shares during the quarter. UBS Group AG owned 0.25% of Clover Health Investments worth $3,091,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Clover Health Investments by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company's stock worth $55,192,000 after acquiring an additional 425,904 shares during the period. Bank of America Corp DE boosted its stake in Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company's stock valued at $11,196,000 after buying an additional 2,748,783 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in Clover Health Investments in the third quarter valued at $8,470,000. Dimensional Fund Advisors LP grew its position in Clover Health Investments by 199.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,140,282 shares of the company's stock valued at $6,551,000 after acquiring an additional 1,425,391 shares during the period. Finally, First Trust Advisors LP acquired a new position in Clover Health Investments during the second quarter worth $4,149,000. Institutional investors own 19.77% of the company's stock.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $3.55 on Tuesday. The business has a fifty day moving average of $2.42 and a two-hundred day moving average of $2.39. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $3.92. The stock has a market cap of $1.87 billion, a PE ratio of -29.58 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million during the quarter, compared to the consensus estimate of $714.89 million. Analysts predict that Clover Health Investments, Corp. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 67,160 shares of Clover Health Investments stock in a transaction on Monday, May 18th. The stock was sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the transaction, the director owned 285,432 shares in the company, valued at approximately $976,177.44. The trade was a 19.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer owned 1,998,584 shares of the company's stock, valued at approximately $4,336,927.28. The trade was a 8.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 340,199 shares of company stock valued at $954,534. Corporate insiders own 23.51% of the company's stock.

Analysts Set New Price Targets

CLOV has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Clover Health Investments in a report on Friday, March 27th. Canaccord Genuity Group cut their price objective on Clover Health Investments from $3.70 to $3.20 and set a "buy" rating for the company in a report on Friday, March 20th. Wall Street Zen raised Clover Health Investments from a "sell" rating to a "hold" rating in a report on Sunday, February 15th. Finally, Leerink Partners cut their price objective on Clover Health Investments from $3.00 to $2.50 and set a "market perform" rating for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $2.90.

Clover Health Investments Company Profile

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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