Divisadero Street Capital Management LP Acquires Shares of 2,768,088 Clover Health Investments, Corp. $CLOV

Divisadero Street Capital Management LP bought a new position in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,768,088 shares of the company’s stock, valued at approximately $8,470,000.

Several other institutional investors have also made changes to their positions in the company. Alteri Wealth LLC acquired a new stake in shares of Clover Health Investments during the second quarter valued at approximately $30,000. Envestnet Asset Management Inc. acquired a new position in Clover Health Investments in the 2nd quarter worth approximately $31,000. Lido Advisors LLC acquired a new position in Clover Health Investments in the 2nd quarter worth approximately $32,000. Integrated Wealth Concepts LLC purchased a new position in Clover Health Investments during the 1st quarter worth approximately $37,000. Finally, 111 Capital purchased a new position in Clover Health Investments during the 3rd quarter worth approximately $42,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the sale, the chief executive officer owned 1,998,584 shares of the company’s stock, valued at approximately $4,336,927.28. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.07% of the company’s stock.

Clover Health Investments Stock Up 0.5%

CLOV stock opened at $1.98 on Monday. Clover Health Investments, Corp. has a 12-month low of $1.92 and a 12-month high of $3.92. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -11.65 and a beta of 2.15. The company has a 50 day moving average of $2.25 and a two-hundred day moving average of $2.59.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The company had revenue of $487.71 million for the quarter, compared to analysts’ expectations of $467.06 million. On average, research analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

CLOV has been the topic of several recent analyst reports. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and set a $3.70 price target on shares of Clover Health Investments in a research report on Tuesday, January 20th. Leerink Partners reduced their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.07.

About Clover Health Investments

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.