Financial Performance - Total revenue for year-to-date 2024 increased by 9% compared to the prior year period, reaching $1.0 billion[1] - GAAP Net Loss from continuing operations improved to $24.8 million year-to-date in 2024, a significant reduction from a loss of $142.2 million in the same period of 2023[2] - Adjusted EBITDA for year-to-date 2024 increased to $62.3 million, compared to a loss of $24.9 million in the year-to-date 2023[2] - The company reported a significant increase in Adjusted EBITDA for Q3 2024, reaching $19.3 million, up 614.8% from $2.7 million in Q3 2023[4] - The company reported a net loss of $9.155 million for Q3 2024, an improvement from a net loss of $41.469 million in Q3 2023[18] - Net loss from continuing operations for the three months ended September 30, 2024, was $(8,785) thousand, compared to $(33,616) thousand for the same period in 2023[22] - Adjusted EBITDA for the three months ended September 30, 2024, was $19,263 thousand, significantly up from $2,723 thousand in the prior year[22] Revenue and Growth - Insurance revenue for Q3 2024 grew by 7% year-over-year to $322.6 million, with year-to-date insurance revenue also up by 9%[2] - Total revenues for Q3 2024 reached $330.986 million, a 8.2% increase from $306.028 million in Q3 2023[17] - Premiums earned, net for Q3 2024 were $322.579 million, compared to $301.230 million in Q3 2023, reflecting a growth of 7.1%[17] Cash and Assets - Total restricted and unrestricted cash, cash equivalents, and investments decreased to $531.4 million, down 20.9% from $672.0 million[4] - Cash and cash equivalents rose significantly to $287.956 million as of September 30, 2024, compared to $116.407 million at the end of 2023[14] - Total current assets as of September 30, 2024, were $432.727 million, slightly up from $427.970 million at the end of 2023[14] - Cash and cash equivalents at the end of the period for discontinued and continuing operations were $287,956 thousand, down from $351,744 thousand at the end of the previous year[21] Liabilities and Equity - Total liabilities increased to $310.847 million as of September 30, 2024, compared to $284.277 million at the end of 2023, marking a rise of 9.3%[15] - Stockholders' equity increased to $342.166 million as of September 30, 2024, up from $286.394 million at the end of 2023[16] Insurance Metrics - Insurance Medical Claims Ratio (MCR) improved to 76% - 77% for full-year 2024 guidance, compared to the previous range of 77% - 79%[5] - Insurance Benefits Expense Ratio (BER) is projected to be between 81% - 82% for full-year 2024, an improvement from the previous guidance of 81% - 83%[5] - Insurance benefits expense ratio for the three months ended September 30, 2024, was 82.8%, slightly improved from 83.3% in the same period last year[24] Cash Flow - Net cash provided by operating activities from continuing operations was $129,539 thousand for the nine months ended September 30, 2024, compared to $79,364 thousand for the same period in 2023[21] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $120,678 thousand, up from $113,424 thousand in the prior year[21] - Net cash used in financing activities for the nine months ended September 30, 2024, was $(11,220) thousand, compared to $(4,244) thousand in the prior year[21] - Purchases of short-term investments for the nine months ended September 30, 2024, totaled $(153,347) thousand, compared to $(142,359) thousand in the same period last year[21] Membership and Market Position - Clover Health's insurance members slightly decreased to 81,110 as of September 30, 2024, from 81,275 a year earlier[6]

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 ...

Group 1 - The article highlights twelve actionable investment ideas on tickers with less coverage, referred to as "The Undercovered Dozen" [1] - Inclusion criteria for "undercovered" tickers include a market cap greater than $100 million, more than 800 symbol page views in the last 90 days, and fewer than two articles published in the past 30 days [1] - The ideas presented can range from large caps that are considered "boring" to promising small caps that are on the rise [1]

Have you been paying attention to shares of Clover Health Investments, Corp. (CLOV) ? Shares have been on the move with the stock up 50.4% over the past month. The stock hit a new 52-week high of $4.03 in the previous session. Clover Health Investments, Corp. has gained 320.1% since the start of the year compared to the 7.2% move for the Zacks Medical sector and the -9% return for the Zacks Medical Info Systems industry. What's Driving the Outperformance? The stock has an impressive record of positive earni ...

FRANKLIN, Tenn., Sept. 26, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) ("Clover Health" or "Clover"), a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare, today announced the appointment of Joseph Brand as Chief Operating Officer (COO) for its Medicare Advantage (MA) plan. Mr. Brand will oversee core MA operations and drive performance improvements, with a focus on improving healthcare delivery in New Jersey by lever ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher." Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ...

FRANKLIN, Tenn., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Clover Health Investments, Corp. (Nasdaq: CLOV) ("Clover," "Clover Health" or the "Company"), a physician enablement technology company committed to bringing access to great healthcare to everyone on Medicare, today announced that its Chief Financial Officer, Peter Kuipers, will present at the 2024 Wells Fargo Healthcare Conference on Wednesday, September 4, 2024, at 4:30 p.m. Eastern Time. A live webcast and replay of the presentation will be accessible fr ...