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 bought 26,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was bought at an average cost of $2.59 per share, for a total transaction of $68,635.00. Following the completion of the acquisition, the director owned 29,610 shares in the company, valued at $76,689.90. This trade represents a 852.09% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Clover Health Investments Stock Down 1.9%

CLOV stock traded down $0.05 during trading on Thursday, reaching $2.57. The company's stock had a trading volume of 6,095,702 shares, compared to its average volume of 7,424,725. Clover Health Investments, Corp. has a 1 year low of $2.12 and a 1 year high of $4.87. The company has a market capitalization of $1.31 billion, a P/E ratio of -32.13 and a beta of 1.91. The company's fifty day moving average is $2.86 and its 200-day moving average is $3.44.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently bought and sold shares of CLOV. Rhumbline Advisers grew its position in shares of Clover Health Investments by 80.5% during the first quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock valued at $25,000 after purchasing an additional 3,160 shares in the last quarter. Clarity Wealth Advisors LLC bought a new position in shares of Clover Health Investments in the 2nd quarter valued at about $28,000. Fifth Third Bancorp bought a new position in shares of Clover Health Investments in the 2nd quarter valued at about $28,000. Perigon Wealth Management LLC bought a new position in shares of Clover Health Investments in the 1st quarter valued at about $36,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Clover Health Investments in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Analysts Set New Price Targets

CLOV has been the topic of a number of recent research reports. UBS Group decreased their target price on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Canaccord Genuity Group cut their price target on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a research note on Thursday, August 7th.

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.

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