Balyasny Asset Management L.P. Purchases 351,241 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Balyasny Asset Management L.P. boosted its position in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 404.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,060 shares of the company's stock after buying an additional 351,241 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.09% of Clover Health Investments worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Triumph Capital Management purchased a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $45,000. Steph & Co. boosted its stake in shares of Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company's stock valued at $63,000 after purchasing an additional 5,000 shares during the period. Parallax Volatility Advisers L.P. boosted its stake in shares of Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after purchasing an additional 6,408 shares during the period. ADAR1 Capital Management LLC purchased a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $73,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $84,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Clover Health Investments Stock Performance

CLOV stock traded up $0.05 on Monday, reaching $3.60. The company's stock had a trading volume of 5,478,842 shares, compared to its average volume of 6,675,753. The business has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $3.68. Clover Health Investments, Corp. has a 12-month low of $0.86 and a 12-month high of $4.87. The firm has a market cap of $1.83 billion, a PE ratio of -18.00 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $466.93 million. As a group, research analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, 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 research note on Monday, March 3rd.

Insider Buying and Selling

In other Clover Health Investments news, General Counsel Karen Soares sold 52,500 shares of the 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 completion of the transaction, the general counsel now owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at approximately $8,898,795.68. This trade represents a 3.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock valued at $1,197,500 over the last quarter. 22.28% of the stock is owned by company insiders.

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.