HBK Sorce Advisory LLC Purchases 30,667 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

HBK Sorce Advisory LLC grew its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Rating) by 95.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,820 shares of the company’s stock after purchasing an additional 30,667 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Clover Health Investments were worth $58,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in Clover Health Investments by 10.2% during the 1st quarter. JPMorgan Chase & Co. now owns 77,719 shares of the company’s stock worth $276,000 after buying an additional 7,199 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Clover Health Investments by 15.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 57,507 shares of the company’s stock worth $204,000 after purchasing an additional 7,730 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Clover Health Investments in the first quarter valued at $74,000. BlackRock Inc. raised its position in Clover Health Investments by 6.2% during the 1st quarter. BlackRock Inc. now owns 5,681,089 shares of the company’s stock worth $20,168,000 after purchasing an additional 329,673 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Clover Health Investments by 0.8% during 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. 29.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CLOV. Citigroup lowered their price objective on Clover Health Investments from $1.30 to $1.00 in a research report on Friday, May 12th. Credit Suisse Group reduced their price objective on shares of Clover Health Investments from $2.50 to $1.25 and set an “underperform” rating on the stock in a research note on Monday, March 6th. Finally, Canaccord Genuity Group decreased their price objective on shares of Clover Health Investments from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, March 6th.

Clover Health Investments Trading Down 3.8 %

NASDAQ:CLOV opened at $1.02 on Friday. The firm has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $1.07. Clover Health Investments, Corp. has a 12 month low of $0.71 and a 12 month high of $3.55. The stock has a market capitalization of $489.14 million, a price-to-earnings ratio of -1.44 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.11. Clover Health Investments had a negative return on equity of 96.52% and a negative net margin of 10.74%. The company had revenue of $898.79 million for the quarter, compared to analyst estimates of $809.37 million. Equities analysts predict that Clover Health Investments, Corp. will post -0.63 earnings per share for the current fiscal year.

About Clover Health Investments

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Clover Health Investments, Corp. operates as a medicare advantage insurer in the United States. The company through its Clover Assistant, a software platform that provides preferred provider organization and health maintenance organization health plans for medicare-eligible consumers. It also focuses on non-insurance businesses.