Renaissance Technologies LLC lowered its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV – Free Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,066,600 shares of the company’s stock after selling 1,413,300 shares during the quarter. Renaissance Technologies LLC owned 2.21% of Clover Health Investments worth $34,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc increased its holdings in Clover Health Investments by 24.7% in the 4th quarter. Legal & General Group Plc now owns 345,086 shares of the company’s stock worth $1,087,000 after buying an additional 68,256 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Clover Health Investments during the 4th quarter valued at about $73,000. Thoroughbred Financial Services LLC bought a new stake in shares of Clover Health Investments in the fourth quarter worth approximately $84,000. ExodusPoint Capital Management LP purchased a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $646,000. Finally, Geode Capital Management LLC boosted its holdings in Clover Health Investments by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock worth $15,387,000 after purchasing an additional 53,760 shares during the last quarter. 19.77% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on CLOV. Canaccord Genuity Group boosted their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a research note on Monday, March 3rd. Craig Hallum began coverage on Clover Health Investments in a report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company.
Insider Buying and Selling
In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the transaction, the director now directly owns 273,227 shares in the company, valued at approximately $986,349.47. The trade was a 42.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $199,500.00. Following the sale, the general counsel now owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is owned by company insiders.
Clover Health Investments Price Performance
Shares of Clover Health Investments stock opened at $3.68 on Friday. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.87. The company’s fifty day simple moving average is $3.89 and its 200-day simple moving average is $3.74. The stock has a market capitalization of $1.88 billion, a PE ratio of -18.40 and a beta of 1.98.
Clover Health Investments 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.
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