Clover Health Investments, Corp. to Post Q2 2024 Earnings of ($0.04) Per Share, Leerink Partnrs Forecasts (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) – Research analysts at Leerink Partnrs decreased their Q2 2024 earnings per share estimates for shares of Clover Health Investments in a report issued on Wednesday, May 22nd. Leerink Partnrs analyst W. Mayo now forecasts that the company will post earnings per share of ($0.04) for the quarter, down from their previous forecast of ($0.03). The consensus estimate for Clover Health Investments’ current full-year earnings is ($0.21) per share. Leerink Partnrs also issued estimates for Clover Health Investments’ Q3 2024 earnings at ($0.05) EPS, Q4 2024 earnings at ($0.07) EPS, FY2024 earnings at ($0.21) EPS, Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.24) EPS, FY2026 earnings at ($0.21) EPS, FY2027 earnings at ($0.20) EPS and FY2028 earnings at ($0.18) EPS.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $346.92 million during the quarter, compared to the consensus estimate of $316.10 million. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%.

Clover Health Investments Stock Up 1.1 %

Shares of CLOV stock opened at $1.00 on Monday. The firm has a market cap of $496.44 million, a P/E ratio of -2.94 and a beta of 1.88. The company has a 50 day moving average of $0.77 and a 200-day moving average of $0.89. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $1.63.

Insider Buying and Selling at Clover Health Investments

In other news, Director Anna U. Loengard purchased 137,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $0.73 per share, with a total value of $100,010.00. Following the transaction, the director now directly owns 538,841 shares of the company’s stock, valued at $393,353.93. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 22.28% of the stock is owned by corporate insiders.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new stake in Clover Health Investments during the 3rd quarter valued at $25,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at $26,000. Rathbones Group PLC bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at $27,000. Jaffetilchin Investment Partners LLC lifted its holdings in Clover Health Investments by 30.2% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after purchasing an additional 11,550 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Clover Health Investments by 68.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock worth $72,000 after purchasing an additional 30,776 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

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.