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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a large decline in short interest in 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 trading volume of 9,360,000 shares, the days-to-cover ratio is currently 4.7 days.

Insider Buying and Selling at Clover Health Investments

In related news, Director Anna U. Loengard bought 137,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $0.73 per share, for a total transaction of $100,010.00. Following the purchase, the director now owns 538,841 shares in the company, valued at $393,353.93. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 21.82% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Clover Health Investments by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 26,087,528 shares of the company’s stock worth $92,611,000 after buying an additional 200,177 shares during the period. BlackRock Inc. boosted its holdings in shares of Clover Health Investments by 5.9% during the 3rd quarter. BlackRock Inc. now owns 25,887,235 shares of the company’s stock valued at $44,009,000 after purchasing an additional 1,452,210 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Clover Health Investments by 29.2% during the 2nd quarter. Renaissance Technologies LLC now owns 8,847,780 shares of the company’s stock valued at $7,937,000 after purchasing an additional 1,999,380 shares during the last quarter. State Street Corp boosted its holdings in shares of Clover Health Investments by 2.6% during the 3rd quarter. State Street Corp now owns 8,155,795 shares of the company’s stock valued at $13,865,000 after purchasing an additional 205,043 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Clover Health Investments by 4.3% during the 1st quarter. Geode Capital Management LLC now owns 6,905,301 shares of the company’s stock valued at $5,836,000 after purchasing an additional 287,443 shares during the last quarter. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $0.63 on Wednesday. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $1.63. The firm has a fifty day moving average price of $0.83 and a 200-day moving average price of $0.93.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data 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. Clover Health Investments had a negative net margin of 10.49% and a negative return on equity of 62.58%. The firm had revenue of $510.25 million during the quarter, compared to the consensus estimate of $491.20 million. Sell-side analysts forecast that Clover Health Investments will post -0.2 EPS for the current year.

About Clover Health Investments

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.