Caxton Associates LLP Purchases Shares of 445,512 Clover Health Investments, Corp. $CLOV

Key Points

• Caxton Associates LLP has acquired 445,512 shares of Clover Health Investments, Corp. ($CLOV), valued at approximately $1.6 million, increasing their stake to about 0.09% of the company.
• Insider activity includes CEO Conrad Wai selling 91,197 shares, while Director Anna U. Loengard purchased 26,500 shares, indicating varied confidence in the company's stock.
• Analysts have mixed ratings on Clover Health, with a consensus “Moderate Buy” and a price target of $4.37, despite recent target reductions from some firms.

Caxton Associates LLP purchased a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 445,512 shares of the company's stock, valued at approximately $1,599,000. Caxton Associates LLP owned approximately 0.09% of Clover Health Investments at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLOV. Northern Trust Corp grew its stake in Clover Health Investments by 16.0% in the fourth quarter. Northern Trust Corp now owns 1,085,626 shares of the company's stock valued at $3,420,000 after purchasing an additional 149,714 shares in the last quarter. Triumph Capital Management purchased a new position in Clover Health Investments in the fourth quarter valued at about $45,000. BNP Paribas Financial Markets acquired a new stake in shares of Clover Health Investments in the fourth quarter worth about $919,000. Balyasny Asset Management L.P. lifted its position in shares of Clover Health Investments by 404.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 438,060 shares of the company's stock worth $1,380,000 after buying an additional 351,241 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Clover Health Investments in the fourth quarter worth about $156,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV traded down $0.08 during trading hours on Friday, hitting $3.06. 4,934,229 shares of the company's stock were exchanged, compared to its average volume of 4,759,553. Clover Health Investments, Corp. has a 1-year low of $2.12 and a 1-year high of $4.87. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -38.25 and a beta of 1.96. The company's 50-day moving average price is $2.80 and its 200-day moving average price is $3.17.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CLOV. Canaccord Genuity Group reduced their price target on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a research report on Thursday, August 7th. UBS Group reduced their price target on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.37.

Insider Activity

In other Clover Health Investments news, Director Anna U. Loengard acquired 26,500 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was acquired at an average price of $2.59 per share, with a total value of $68,635.00. Following the transaction, the director owned 29,610 shares of the company's stock, valued at approximately $76,689.90. This trade 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 business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total value of $390,194.00. Following the transaction, the chief executive officer directly owned 1,494,898 shares of the company's stock, valued at $4,918,214.42. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. 24.07% of the stock is currently owned by insiders.

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.