Algert Global LLC Increases Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Algert Global LLC increased its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 192.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 428,781 shares of the company's stock after buying an additional 282,321 shares during the quarter. Algert Global LLC owned 0.09% of Clover Health Investments worth $1,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CLOV. Phoenix Financial Ltd. increased its holdings in Clover Health Investments by 6.8% in the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock worth $123,000 after purchasing an additional 2,500 shares in the last quarter. Steph & Co. increased its holdings in Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company's stock worth $63,000 after purchasing an additional 5,000 shares in the last quarter. Parallax Volatility Advisers L.P. increased its holdings in Clover Health Investments by 47.7% in the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock worth $63,000 after purchasing an additional 6,408 shares in the last quarter. Arizona State Retirement System increased its holdings in Clover Health Investments by 6.3% in the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock worth $373,000 after purchasing an additional 6,990 shares in the last quarter. Finally, SignalPoint Asset Management LLC increased its holdings in Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company's stock worth $504,000 after purchasing an additional 9,390 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research note on Monday, March 3rd.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was 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 of the company's stock, valued at $986,349.47. This trade represents a 42.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brady Patrick Priest sold 75,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the sale, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. This represents a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,500 shares of company stock valued at $1,197,500. Corporate insiders own 22.28% of the company's stock.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock traded down $0.07 on Tuesday, hitting $3.40. 8,719,216 shares of the company's stock traded hands, compared to its average volume of 6,771,842. Clover Health Investments, Corp. has a one year low of $0.86 and a one year high of $4.87. The company has a fifty day moving average of $3.56 and a two-hundred day moving average of $3.71. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -17.00 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.12. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. The company had revenue of $462.33 million for the quarter, compared to analysts' expectations of $466.93 million. Equities research analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Clover Health Investments Company 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.