175,363 Shares in Clover Health Investments, Corp. $CLOV Bought by Lazard Asset Management LLC

Lazard Asset Management LLC purchased a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 175,363 shares of the company’s stock, valued at approximately $309,000.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC purchased a new stake in shares of Clover Health Investments in the first quarter worth about $49,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Clover Health Investments during the 1st quarter valued at about $37,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Clover Health Investments by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company’s stock valued at $3,070,000 after buying an additional 24,807 shares during the period. Envestnet Asset Management Inc. acquired a new position in Clover Health Investments during the 2nd quarter worth approximately $31,000. Finally, JPMorgan Chase & Co. lifted its position in Clover Health Investments by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 633,700 shares of the company’s stock worth $1,768,000 after acquiring an additional 186,047 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CLOV. Wall Street Zen raised shares of Clover Health Investments from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Canaccord Genuity Group boosted their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. UBS Group upped their target price on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.33.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $4.76 on Friday. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The business’s 50-day simple moving average is $4.64 and its 200 day simple moving average is $3.17. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -95.18 and a beta of 2.47.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.35% and a negative net margin of 0.74%.The firm had revenue of $743.17 million during the quarter, compared to the consensus estimate of $728.27 million.

Insider Activity at Clover Health Investments

In related news, Director Carladenise Armbrister Edwards sold 67,160 shares of Clover Health Investments stock in a transaction on Monday, May 18th. The shares were 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. The trade was a 19.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Frank Oldakowski sold 12,102 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total transaction of $58,815.72. Following the completion of the sale, the vice president directly owned 299,067 shares in the company, valued at $1,453,465.62. This represents a 3.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 715,884 shares of company stock worth $3,202,372. 23.51% of the stock is currently owned by 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.