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

UBS Group AG lessened its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 42.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,315,324 shares of the company’s stock after selling 966,789 shares during the period. UBS Group AG’s holdings in Clover Health Investments were worth $3,091,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Clover Health Investments by 1.8% during the fourth 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Clover Health Investments by 64.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,024 shares of the company’s stock worth $306,000 after acquiring an additional 51,027 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Clover Health Investments by 6.3% during the fourth quarter. Farther Finance Advisors LLC now owns 248,620 shares of the company’s stock worth $584,000 after acquiring an additional 14,687 shares during the last quarter. Choreo LLC raised its position in shares of Clover Health Investments by 34.9% during the fourth quarter. Choreo LLC now owns 386,922 shares of the company’s stock worth $925,000 after acquiring an additional 100,120 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Clover Health Investments by 104.9% during the fourth quarter. SG Americas Securities LLC now owns 59,046 shares of the company’s stock worth $139,000 after acquiring an additional 30,223 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

NASDAQ CLOV opened at $3.55 on Tuesday. The stock has a 50-day simple moving average of $2.42 and a 200 day simple moving average of $2.39. The company has a market capitalization of $1.87 billion, a PE ratio of -29.58 and a beta of 2.44. Clover Health Investments, Corp. has a 12 month low of $1.58 and a 12 month high of $3.92.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CLOV shares. Canaccord Genuity Group dropped their target price on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Leerink Partners dropped their target price on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.90.

Insider Transactions at Clover Health Investments

In related news, Director Carladenise Armbrister Edwards sold 67,160 shares of the company’s stock in a transaction dated 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 sale, the director owned 285,432 shares in the company, valued at approximately $976,177.44. This represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Brady Patrick Priest sold 98,039 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total transaction of $345,097.28. Following the completion of the sale, the chief executive officer owned 2,040,222 shares in the company, valued at approximately $7,181,581.44. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 340,199 shares of company stock valued at $954,534 in the last quarter. 23.51% of the stock is currently owned by corporate insiders.

Clover Health Investments 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.