1,305,200 Shares in Clover Health Investments, Corp. $CLOV Bought by GMT Capital Corp

Key Points

• GMT Capital Corp has acquired 1,305,200 shares of Clover Health Investments, valued at approximately $4.68 million, representing a 0.26% ownership stake by the end of the reporting period.
• Institutional investors now own 19.77% of Clover Health's stock, with several firms increasing their holdings or purchasing new stakes during the 1st quarter.
• Clover Health's stock currently holds a consensus rating of "Moderate Buy" with an average target price of $4.37, despite recent target price reductions from two analysts.

GMT Capital Corp acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,305,200 shares of the company's stock, valued at approximately $4,686,000. GMT Capital Corp owned approximately 0.26% of Clover Health Investments at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in Clover Health Investments by 80.5% in the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock valued at $25,000 after acquiring an additional 3,160 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Clover Health Investments in the 1st quarter valued at approximately $36,000. Triumph Capital Management bought a new position in Clover Health Investments in the 4th quarter valued at approximately $45,000. Deutsche Bank AG lifted its position in Clover Health Investments by 149.4% in the 1st quarter. Deutsche Bank AG now owns 16,307 shares of the company's stock valued at $59,000 after acquiring an additional 9,768 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Clover Health Investments in the 1st quarter valued at approximately $60,000. 19.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Clover Health Investments

In other news, Director Anna U. Loengard purchased 26,500 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $2.59 per share, with a total value of $68,635.00. Following the acquisition, the director directly owned 29,610 shares of the company's stock, valued at $76,689.90. This represents a 852.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Conrad Wai sold 118,600 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total value of $390,194.00. Following the completion of the transaction, the chief executive officer directly owned 1,494,898 shares in the company, valued at approximately $4,918,214.42. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CLOV shares. Canaccord Genuity Group lowered their price objective 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 lowered their price objective 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. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.37.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV traded down $0.01 during midday trading on Monday, hitting $2.62. 2,863,044 shares of the stock traded hands, compared to its average volume of 7,989,494. The firm has a 50-day moving average of $2.78 and a two-hundred day moving average of $3.26. The firm has a market capitalization of $1.34 billion, a P/E ratio of -32.75 and a beta of 1.96. Clover Health Investments, Corp. has a one year low of $2.12 and a one year high of $4.87.

Clover Health Investments 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.