Highlights from Clover Health’s QTR 1, 2022 Results published on 2022-May-09:
Clover Health had $722.8 million USD in Cash, cash equivalents and investments.
First quarter 2022 total revenue was $874.4 million, compared to $200.3 million in first quarter 2021.
Full-year 2022 revenue is expected to be $3.0 billion to $3.4 billion
Insurance Medical care Ratio (MCR) 96.4% - Non-Insurance (Direct Contracting) (MCR) 99.8%
Clover Health continues to expect 2022 Insurance MCR of 95% to 99%.
Loss from operations in first quarter 2022 was $87.3 million compared to $119.1 million in first quarter 2021.
Total Shares Outstanding are 471,468,963 and $CLOV price at market-close on 2022-Jun-13 was $2.05 (very close to its book value).
Clover Health’s current Market Cap is about $966.5 million. It had $722.8 million in cash on 2022-03-31.
Total revenue in the last Quarter was $874.4 million and full-year 2022 revenue is expected to be $3 billion to $3.4 billion!
Clover Health Investments Corp (A) is very likely to be added to the Russell 3000 and Russell 2000 indices; we will know for sure on 2022-06-27 when equity markets start trading with the reconstituted Russell indices.
Also, new CFO is due to join in August 2022 probably around Clover Health’s Quarter 2, 2022 Results.
Please note that this is NOT financial advice; do your own research before taking any action.
ITOT - iShares Core S&P Total U.S. Stock Market ETF increased $CLOV shares slightly in the last quarter.
As this fund is listed as child fund of BlackRock Inc these positions will not be double counted when calculating total shares & total value.
This is why I hold and why I'll keep buying more even as the price keeps dropping.
Not financial advice, just my take.
Who thinks the same ?