Clover Health Investments, Corp. (NASDAQ:CLOV) Sees Large Decrease in Short Interest

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 43,980,000 shares, a decline 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 Activity at Clover Health Investments

In other news, Director Anna U. Loengard acquired 137,000 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was 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 owns 538,841 shares of the company’s stock, valued at $393,353.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.82% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Clover Health Investments by 10.2% during the first quarter. JPMorgan Chase & Co. now owns 77,719 shares of the company’s stock worth $276,000 after buying an additional 7,199 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Clover Health Investments by 15.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,507 shares of the company’s stock valued at $204,000 after acquiring an additional 7,730 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Clover Health Investments during the 1st quarter worth approximately $74,000. BlackRock Inc. grew its position in shares of Clover Health Investments by 6.2% in the first quarter. BlackRock Inc. now owns 5,681,089 shares of the company’s stock valued at $20,168,000 after purchasing an additional 329,673 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Clover Health Investments by 0.8% in the first quarter. Vanguard Group Inc. now owns 26,087,528 shares of the company’s stock valued at $92,611,000 after purchasing an additional 200,177 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Stock Performance

Clover Health Investments stock opened at $0.63 on Wednesday. The business has a 50 day simple moving average of $0.83 and a 200-day simple moving average of $0.93. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $1.63.

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