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

Algert Global LLC increased its position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 192.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 428,781 shares of the company's stock after purchasing an additional 282,321 shares during the quarter. Algert Global LLC owned approximately 0.09% of Clover Health Investments worth $1,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Freestone Grove Partners LP purchased a new position in Clover Health Investments during the fourth quarter valued at $402,000. Triumph Capital Management purchased a new position in shares of Clover Health Investments in the fourth quarter worth $45,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clover Health Investments in the fourth quarter worth $1,860,000. Northern Trust Corp raised its stake in shares of Clover Health Investments by 16.0% in the fourth quarter. Northern Trust Corp now owns 1,085,626 shares of the company's stock worth $3,420,000 after purchasing an additional 149,714 shares during the last quarter. Finally, Parallax Volatility Advisers L.P. raised its stake in shares of Clover Health Investments by 47.7% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 19.77% of the company's stock.

Insiders Place Their Bets

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

Clover Health Investments Stock Down 0.8%

Clover Health Investments stock traded down $0.03 during midday trading on Thursday, reaching $3.29. 4,712,945 shares of the stock traded hands, compared to its average volume of 6,699,916. The stock's fifty day moving average is $3.55 and its 200-day moving average is $3.70. Clover Health Investments, Corp. has a 12 month low of $0.86 and a 12 month high of $4.87. The stock has a market cap of $1.68 billion, a P/E ratio of -16.47 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $462.33 million during the quarter, compared to analyst estimates of $466.93 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. On average, equities analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group lifted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a report on Monday, March 3rd.

About Clover Health Investments

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.