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

Clover Health Investments, Corp. (NASDAQ:CLOVFree Report) – Equities researchers at Leerink Partnrs cut their Q2 2024 earnings per share (EPS) estimates for shares of Clover Health Investments in a report issued on Wednesday, May 22nd. Leerink Partnrs analyst W. Mayo now expects that the company will earn ($0.04) per share for the quarter, down from their prior 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:CLOVGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $346.92 million for the quarter, compared to analyst estimates of $316.10 million. Clover Health Investments had a negative return on equity of 48.07% and a negative net margin of 8.63%.

Clover Health Investments Trading Up 1.1 %

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. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $1.63. The stock’s 50 day simple moving average is $0.78 and its 200 day simple moving average is $0.89.

Insider Activity at Clover Health Investments

In other news, Director Anna U. Loengard purchased 137,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $0.73 per share, with a total value of $100,010.00. Following the transaction, the director now owns 538,841 shares in the company, valued at approximately $393,353.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 22.28% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC bought a new position in Clover Health Investments during the 3rd quarter worth $25,000. Allspring Global Investments Holdings LLC bought a new position in Clover Health Investments during the 3rd quarter worth $26,000. Rathbones Group PLC bought a new position in Clover Health Investments during the 3rd quarter worth $27,000. Jaffetilchin Investment Partners LLC grew its stake 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 buying an additional 11,550 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Clover Health Investments by 68.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock worth $72,000 after buying an additional 30,776 shares during the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

About Clover Health Investments

(Get Free Report)

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.

See Also

Earnings History and Estimates for Clover Health Investments (NASDAQ:CLOV)

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