OMERS ADMINISTRATION Corp Raises Stock Holdings in Clover Health Investments, Corp. $CLOV

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Clover Health Investments by 87.5%, now holding 209,200 shares worth approximately $751,000, reflecting a growing interest from institutional investors.
• Clover Health's CEO Conrad Wai recently sold 118,600 shares, representing a 7.35% decrease in his holdings, while Director Anna U. Loengard increased her position by 852.09% with a purchase of 26,500 shares.
• Recent analyst ratings have seen UPB Group downgrade their price target on Clover Health from $4.50 to $3.00, while Canaccord Genuity rated it a "buy" with a target of $4.10, indicating mixed market sentiment.

OMERS ADMINISTRATION Corp raised its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 87.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,200 shares of the company's stock after acquiring an additional 97,600 shares during the period. OMERS ADMINISTRATION Corp's holdings in Clover Health Investments were worth $751,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLOV. Tower Research Capital LLC TRC raised its holdings in Clover Health Investments by 2,867.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 46,086 shares of the company's stock valued at $145,000 after acquiring an additional 44,533 shares in the last quarter. Northern Trust Corp increased its stake in shares of Clover Health Investments by 16.0% in the 4th 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 during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Clover Health Investments in the 4th quarter valued at $1,860,000. Triumph Capital Management bought a new position in shares of Clover Health Investments in the 4th quarter valued at $45,000. Finally, Freestone Grove Partners LP bought a new position in shares of Clover Health Investments in the 4th quarter valued at $402,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Clover Health Investments news, Director Anna U. Loengard bought 26,500 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $2.59 per share, for a total transaction of $68,635.00. Following the transaction, the director directly owned 29,610 shares in the company, valued at approximately $76,689.90. This trade represents a 852.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Conrad Wai sold 91,197 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $3.32, for a total value of $302,774.04. Following the sale, the chief executive officer owned 1,403,701 shares in the company, valued at approximately $4,660,287.32. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.07% of the company's stock.

Clover Health Investments Stock Performance

Shares of CLOV stock traded up $0.06 on Friday, hitting $2.75. The company had a trading volume of 4,049,134 shares, compared to its average volume of 5,418,078. The firm has a market cap of $1.41 billion, a P/E ratio of -34.38 and a beta of 1.96. The stock's 50-day moving average is $2.77 and its two-hundred day moving average is $3.22. Clover Health Investments, Corp. has a twelve month low of $2.12 and a twelve month high of $4.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CLOV shares. UBS Group decreased their price target on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 6th. Canaccord Genuity Group lowered their target price on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Clover Health Investments presently has an average rating of "Moderate Buy" and a consensus price target of $4.37.

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.