A downtrend has been apparent in Clover Health Investments, Corp. (CLOV) lately with too much selling pressure. The stock has declined 25.8% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technica ...

Business Operations - As of September 30, 2024, Clover Health operates Medicare Advantage plans in five states and 200 counties, serving 81,110 members[150]. - The company launched Counterpart Health, a SaaS solution aimed at extending the benefits of its technology to Medicare Advantage payors and providers, with low startup costs and high-margin business opportunities[154]. - The company exited the ACO REACH program effective January 1, 2024, after determining it was in its best interest to do so[155]. Financial Performance - Premiums earned, gross for 2024 totaled $1,014,502,000, with a PMPM of $1,409, compared to $933,040,000 and a PMPM of $1,252 in 2023[159]. - Adjusted EBITDA for 2024 is $19,263,000, a significant increase from $2,723,000 in 2023, reflecting improved operational efficiency[159]. - Total revenues increased by $24.9 million, or 8.2%, to $330.986 million for the three months ended September 30, 2024, compared to the same period in 2023[180]. - Net loss from continuing operations improved by $24.8 million, or 73.9%, to $(8.8) million for the three months ended September 30, 2024, compared to $(33.6) million for the same period in 2023[179]. Claims and Expenses - Clover Health's net medical claims incurred for 2024 were $251,643,000, with a PMPM of $1,040, compared to $236,533,000 and a PMPM of $966 in 2023[159]. - The medical care ratio, gross for 2024 is reported at 78.1%, slightly improved from 78.6% in 2023, indicating effective cost management[159]. - Clover Health's benefits expense ratio, gross for 2024 is 82.8%, consistent with the previous year's ratio of 83.4%, indicating stable expense management[159]. - Net medical claims incurred increased by $14.0 million, or 6%, to $249.8 million for the three months ended September 30, 2024, compared to the same period in 2023[183]. Income and Cost Management - Other income rose by $3.6 million, or 75%, to $8.4 million for the three months ended September 30, 2024, attributed to a higher interest rate environment[182]. - Salaries and benefits decreased by $5.6 million, or 9%, to $55.0 million for the three months ended September 30, 2024, primarily due to lower share-based compensation costs[184]. - General and administrative expenses decreased by $5.8 million, or 14%, to $35.2 million for the three months ended September 30, 2024, driven by a reduction in professional fees[185]. Cash Flow and Investments - Net cash provided by operating activities from continuing operations was $129.5 million for the nine months ended September 30, 2024, reflecting a net loss of $20.9 million[207]. - Net cash provided by investing activities was $2.0 million for the nine months ended September 30, 2024, primarily due to $156.6 million from the sale and maturity of investment securities[209]. - Total restricted and unrestricted cash, cash equivalents, and investments for all entities were $531.4 million at September 30, 2024, compared to $417.3 million at December 31, 2023[199]. Risk Management - The company is primarily exposed to interest rate risk associated with investments in fixed maturity instruments[222]. - Credit risk is managed by investing in high-quality securities and diversifying holdings[223]. - The company does not have material exposure to commodity risk[222]. Accounting and Financial Measures - Clover Health utilizes non-GAAP measures such as Adjusted EBITDA and Adjusted SG&A to assess performance and future prospects[220]. - Non-GAAP financial measures should be read in conjunction with GAAP financial statements[220]. - Recent accounting pronouncements and their potential impact are discussed in the condensed consolidated financial statements[218].

Clover Health Investments, Corp. (CLOV) delivered a loss per share of 2 cents in the third quarter of 2024, narrower than the year-ago period’s loss of 7 cents per share and the Zacks Consensus Estimate of a loss of 3 cents per share.CLOV’s Revenues in DetailClover Health registered revenues of $330.9 million in the third quarter, up 8.2% year over year. However, the figure missed the Zacks Consensus Estimate by 4.8%.The top line was aided by robust Insurance revenues and Other income.Shares of this company ...

Clover Health Investments, Corp. (CLOV) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post a loss of $0.04 per share when it actually produced earnings of $0.01, delivering a surprise of 125%.Over the last four quarters, the com ...

Third Quarter 2024 Earnings Conference Call November 6, 2024 LGTMs: Date: | --- | --- | |--------------------------|----------| | | | | Andrew T. ("I" in RAPID) | Input | | | provided | | | 11/4 | Peter K. Legal (Karen / Peter R.) Accounting (#s check) Disclaimer This presentation and the accompanying oral presentation include forward-looking statements, including, without limitation, statements regarding future events and Clover Health Investments, Corp.'s ("Clover Health," "we," "our," or "us") expectatio ...

Financial Data and Key Metrics Changes - The GAAP net loss in continuing operations for Q3 2024 improved significantly by $25 million to a loss of $9 million compared to the same quarter last year [19] - Adjusted EBITDA improved to a profit of $19 million this quarter, compared to $3 million in Q3 2023 [19] - Year-to-date adjusted EBITDA profitability increased by $87 million, delivering $62 million so far this year [20] - Insurance revenue for Q3 2024 was $323 million, representing year-to-year growth of 7% [22] - Year-to-date revenue was $1.14 billion, reflecting a 9% growth year-to-year [23] Business Line Data and Key Metrics Changes - The Insurance Benefits Expense Ratio (BER) improved to 82.8% in Q3 2024, compared to 82.2% in the same period of 2023 [21] - The Medical Care Ratio (MCR) improved to 78% in Q3 2024 from 78.5% last year [21] - The company achieved industry-leading loss ratios driven by strong performance in PMPM revenue and medical expense management [7] Market Data and Key Metrics Changes - The company received upgraded Star Ratings, notably a 4-Star Rating for its flagship PPO for plan year 2025, impacting payment year 2026 [8] - Over 95% of members are in the 4-Star plan, which received the highest score in the country on core HEDIS measures [8] Company Strategy and Development Direction - The company plans to focus on growth while maintaining consolidated profitability through strong management of returning member cohorts [14] - Investments will be made to support membership growth opportunities for 2025 and beyond, leveraging improved Star Ratings and strong performance [27][28] - The company aims to expand its Medicare Advantage plan significantly and profitably within current markets and new geographies [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth opportunity due to competitors struggling with Star Ratings and cost management [13] - The company is positioned well for growth in 2025, supported by strong performance in 2024 [15] - Management highlighted the importance of maintaining a strong balance sheet and operational efficiencies to support future growth [31][34] Other Important Information - The company ended Q3 2024 with cash and investments totaling $531 million [30] - Cash flow from operating activities for Q3 was $50 million, bringing year-to-date cash flow to $130 million [31] - The company plans to increase its full year 2024 adjusted EBITDA guidance to between $55 million and $65 million [33] Q&A Session Summary Question: Insights on AEP for 2025 and impact of STARS rating - Management noted that the 4-Star Rating affects plan year 2025 and positions the company well against competitors [46][48] Question: Details on fourth quarter investments and PPD benefit - Investments will focus on marketing and quality initiatives, with PPD having a smaller impact than in prior quarters [50][51] Question: Impact of IRA on drug costs and bids - Management indicated that they are adjusting bids in response to IRA changes and feel confident about their position in the market [55][57]

Clover Health Reports Strong Third Quarter 2024 Financial Results; Highlights Differentiated Market Opportunity to Grow Membership Delivers 9% Total Revenue growth year-to-date compared to prior year period Company improves 2024 year-to-date GAAP Net Loss from Continuing Operations by $117.4 million year-over-year and year-to-date Adjusted EBITDA by $87.2 million year-over-year Increases Full-Year 2024 guidance midpoint to target updated range of Adjusted EBITDA profitability of $55 million - $65 million, s ...

Small deep value individual investor, with a modest private investment portfolio, split approx. 50%-50% between shares and call options. I have a B.Sc. in aeronautical engineering and over 6 years of experience as an engineering consultant in the aerospace sector. The latter statement is not relevant in any way whatsoever to my investment style, but I thought to add it for self-indulgent purposes. I have a contrarian investment style, highly risky, and often dealing with illiquid options. How illiquid? Well ...

Clover Health Investments, Corp. (CLOV) is scheduled to report third-quarter 2024 results on Nov. 6, after the closing bell.In the last reported quarter, the company delivered earnings per share of a penny against the Zacks Consensus Estimate of a loss of 4 cents. Over the trailing four quarters, its earnings outperformed the Zacks Consensus Estimate on each of the four occasions, delivering an earnings surprise of 49.2%, on average.For third-quarter 2024, the Zacks Consensus Estimate for revenues is pegged ...

FRANKLIN, Tenn., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) (“Clover Health”), today announced that it will report third quarter 2024 financial results after market close on Wednesday, November 6, 2024. Management will host a conference call and webcast at 5:00 p.m. Eastern Time on November 6, 2024, to discuss Clover Health’s third quarter 2024 business and financial results. Third Quarter 2024 Conference Call and Webcast Details: What: Clover Health’s Third Quarter 20 ...