Forum Financial Management LP Increases Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Forum Financial Management LP increased its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,077 shares of the company’s stock after buying an additional 4,061 shares during the period. Forum Financial Management LP’s holdings in Clover Health Investments were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLOV. Bleakley Financial Group LLC lifted its position in shares of Clover Health Investments by 98.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 20,090 shares of the company’s stock valued at $57,000 after acquiring an additional 9,988 shares during the period. SignalPoint Asset Management LLC boosted its position in 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 in the last quarter. Jaffetilchin Investment Partners LLC grew its holdings in Clover Health Investments by 30.2% in the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after purchasing an additional 11,550 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Clover Health Investments by 54.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock valued at $42,000 after buying an additional 12,104 shares in the last quarter. Finally, Viewpoint Capital Management LLC raised its stake in shares of Clover Health Investments by 96.8% during the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after buying an additional 15,000 shares during the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, UBS Group began 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.

Clover Health Investments Price Performance

Shares of CLOV opened at $4.32 on Wednesday. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.71. The firm has a 50 day simple moving average of $3.39 and a 200-day simple moving average of $2.10. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -16.00 and a beta of 2.03.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $356.26 million during the quarter, compared to analysts’ expectations of $338.70 million. Clover Health Investments had a negative return on equity of 36.55% and a negative net margin of 7.30%. During the same period in the previous year, the firm posted ($0.06) earnings per share. On average, equities analysts expect that Clover Health Investments, Corp. will post -0.13 earnings per share for the current fiscal year.

Clover Health Investments 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.