Clover Health Investments, Corp. (NASDAQ:CLOV) Stake Boosted by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC raised its position in Clover Health Investments, Corp. (NASDAQ:CLOV) by 153.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,392 shares of the company’s stock after purchasing an additional 141,148 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Clover Health Investments were worth $735,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CLOV. Geode Capital Management LLC raised its position in Clover Health Investments by 21.9% during the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after acquiring an additional 868,501 shares in the last quarter. State Street Corp lifted its stake in shares of Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after purchasing an additional 862,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Clover Health Investments by 75.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after purchasing an additional 485,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Clover Health Investments during the third quarter worth $1,228,000. Finally, Point72 Asset Management L.P. bought a new position in Clover Health Investments during the third quarter valued at about $735,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Clover Health Investments news, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the transaction, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now directly owns 273,227 shares in the company, valued at $986,349.47. This trade represents a 42.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,500 shares of company stock worth $1,197,500. Insiders own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CLOV shares. Canaccord Genuity Group increased their price objective on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday, March 3rd. Craig Hallum started coverage on Clover Health Investments in a report on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target for the company.

Clover Health Investments Stock Performance

CLOV opened at $3.66 on Monday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -18.30 and a beta of 2.00. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.87. The firm’s 50-day simple moving average is $4.12 and its 200-day simple moving average is $3.63.

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.