Triumph Capital Management Takes $45,000 Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Triumph Capital Management purchased a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 14,218 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC bought a new position in shares of Clover Health Investments during the third quarter valued at about $298,000. JPMorgan Chase & Co. purchased a new position in shares of Clover Health Investments during the third quarter valued at approximately $448,000. Ballentine Partners LLC purchased a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $131,000. Palacios Wealth Management LLC purchased a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $131,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $135,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Stock Up 4.1%

Shares of CLOV stock opened at $3.55 on Monday. The company’s fifty day simple moving average is $3.55 and its two-hundred day simple moving average is $3.69. The stock has a market cap of $1.81 billion, a P/E ratio of -17.75 and a beta of 1.99. Clover Health Investments, Corp. has a 52 week low of $0.86 and a 52 week high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The firm had revenue of $462.33 million for the quarter, compared to the consensus estimate of $466.93 million. On average, analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the transaction, the director now owns 273,227 shares in the company, valued at $986,349.47. The trade was a 42.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $199,500.00. Following the transaction, the general counsel now owns 1,299,663 shares of the company’s stock, valued at $4,938,719.40. This trade represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research report on Monday, March 3rd.

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.