Anna U. Loengard Purchases 26,500 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) Stock

Key Points

• Anna U. Loengard, a director at Clover Health, purchased 26,500 shares of the company at an average price of $2.59 per share, increasing her stake by 852.09%.
• Clover Health's stock dropped 1.9% to $2.57, with a market capitalization of $1.31 billion and a P/E ratio of -32.13.
• Analysts have recently revised their price targets for Clover Health, with UBS Group lowering its target from $4.50 to $3.00 and Canaccord Genuity cutting theirs from $4.50 to $4.10.

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) Director Anna U. Loengard acquired 26,500 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $2.59 per share, with a total value of $68,635.00. Following the acquisition, the director owned 29,610 shares in the company, valued at approximately $76,689.90. The trade was a 852.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV traded down $0.10 during mid-day trading on Tuesday, hitting $2.52. The stock had a trading volume of 1,191,478 shares, compared to its average volume of 7,367,976. The company has a 50 day moving average of $2.84 and a two-hundred day moving average of $3.38. Clover Health Investments, Corp. has a twelve month low of $2.12 and a twelve month high of $4.87. The firm has a market cap of $1.29 billion, a PE ratio of -31.56 and a beta of 1.91.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CLOV. Canaccord Genuity Group cut their target price on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating on the stock in a research report on Thursday, August 7th. UBS Group cut their target price on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Clover Health Investments by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company's stock worth $73,883,000 after purchasing an additional 994,904 shares during the period. Geode Capital Management LLC grew its position in Clover Health Investments by 95.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company's stock worth $27,467,000 after purchasing an additional 4,812,368 shares during the period. Millennium Management LLC grew its position in Clover Health Investments by 365.9% during the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company's stock worth $20,836,000 after purchasing an additional 4,558,305 shares during the period. Bank of America Corp DE grew its position in Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company's stock worth $11,196,000 after purchasing an additional 2,748,783 shares during the period. Finally, Marshall Wace LLP grew its position in Clover Health Investments by 167.6% during the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company's stock worth $11,875,000 after purchasing an additional 2,360,902 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.