Barclays PLC raised its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 336.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 461,692 shares of the company's stock after purchasing an additional 355,926 shares during the quarter. Barclays PLC owned 0.09% of Clover Health Investments worth $1,454,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Optimize Financial Inc bought a new stake in shares of Clover Health Investments in the 4th quarter worth about $265,000. Phoenix Financial Ltd. increased its position in shares of Clover Health Investments by 6.8% during the fourth 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. Legal & General Group Plc lifted its holdings in Clover Health Investments by 24.7% in the fourth quarter. Legal & General Group Plc now owns 345,086 shares of the company's stock valued at $1,087,000 after acquiring an additional 68,256 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in Clover Health Investments in the 4th quarter valued at about $73,000. Finally, Thoroughbred Financial Services LLC acquired a new position in Clover Health Investments during the 4th quarter worth approximately $84,000. Hedge funds and other institutional investors own 19.77% of the company's stock.
Analyst Ratings Changes
Separately, Canaccord Genuity Group upped their target price on Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a report on Monday, March 3rd.
Check Out Our Latest Stock Report on CLOV
Insider Activity
In related news, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total transaction of $276,000.00. Following the transaction, the chief executive officer now owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. The trade was a 3.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction dated Friday, March 7th. The shares were 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 owns 273,227 shares of the company's stock, valued at $986,349.47. The trade was a 42.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,500 shares of company stock valued at $1,197,500 in the last 90 days. Insiders own 22.28% of the company's stock.
Clover Health Investments Stock Performance
Shares of Clover Health Investments stock traded down $0.11 during trading on Friday, reaching $3.64. The company's stock had a trading volume of 2,652,303 shares, compared to its average volume of 6,783,027. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of -18.20 and a beta of 1.99. Clover Health Investments, Corp. has a one year low of $0.79 and a one year high of $4.87. The business's fifty day moving average price is $3.57 and its 200-day moving average price is $3.71.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The firm had revenue of $462.33 million for the quarter, compared to analyst estimates of $466.93 million. Sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.
Clover Health Investments Profile
(
Free Report)
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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