Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Drops By 7.5%

Clover Health Investments, Corp. (NASDAQ:CLOV) saw a significant decrease in short interest in March. As of March 31st, there was short interest totalling 43,980,000 shares, a decrease of 7.5% from the March 15th total of 47,540,000 shares. Based on an average daily volume of 9,360,000 shares, the short-interest ratio is presently 4.7 days.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, Director Anna U. Loengard purchased 137,000 shares of Clover Health Investments stock in a transaction on Thursday, March 14th. The shares were bought at an average price of $0.73 per share, with a total value of $100,010.00. Following the completion of the acquisition, the director now directly owns 538,841 shares of the company’s stock, valued at $393,353.93. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 21.82% of the company’s stock.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Clover Health Investments by 10.2% in the first quarter. JPMorgan Chase & Co. now owns 77,719 shares of the company’s stock worth $276,000 after acquiring an additional 7,199 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Clover Health Investments by 15.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,507 shares of the company’s stock valued at $204,000 after purchasing an additional 7,730 shares during the last quarter. Prelude Capital Management LLC raised its stake in Clover Health Investments by 65.8% during the 1st quarter. Prelude Capital Management LLC now owns 19,732 shares of the company’s stock valued at $70,000 after purchasing an additional 7,832 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Clover Health Investments by 6.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 151,424 shares of the company’s stock valued at $141,000 after purchasing an additional 8,637 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Clover Health Investments in the 1st quarter valued at $35,000. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV traded down $0.01 during midday trading on Tuesday, hitting $0.63. The company’s stock had a trading volume of 5,340,267 shares, compared to its average volume of 9,232,332. Clover Health Investments has a 1-year low of $0.61 and a 1-year high of $1.63. The firm’s fifty day moving average price is $0.84 and its 200-day moving average price is $0.93. The firm has a market cap of $309.56 million, a P/E ratio of -1.41 and a beta of 1.84.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Tuesday, March 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $510.25 million during the quarter, compared to analyst estimates of $491.20 million. Clover Health Investments had a negative net margin of 10.49% and a negative return on equity of 62.58%. As a group, research analysts predict that Clover Health Investments will post -0.2 earnings per share for the current fiscal year.

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.