Charles Schwab Investment Management Inc. Has $9.37 Million Stock Position in Clover Health Investments, Corp. $CLOV

Key Points

• Charles Schwab Investment Management Inc. decreased its holdings in Clover Health Investments by 5.1% in the first quarter, owning 2,611,133 shares valued at approximately $9.37 million.
• Several hedge funds made significant moves in Clover Health Investments, with Millennium Management LLC increasing its stake by 5,071.2% and Barclays PLC boosting its position by 336.5% in the fourth quarter.
• Clover Health's stock has seen a recent price target reduction by UBS Group from $4.50 to $3.00, while analysts maintain a consensus rating of "Moderate Buy" with an average price target of $4.37.

Charles Schwab Investment Management Inc. lessened its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,611,133 shares of the company's stock after selling 139,924 shares during the period. Charles Schwab Investment Management Inc. owned about 0.51% of Clover Health Investments worth $9,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Graham Capital Management L.P. acquired a new stake in shares of Clover Health Investments in the fourth quarter worth $889,000. Barclays PLC raised its holdings in shares of Clover Health Investments by 336.5% during the fourth quarter. Barclays PLC now owns 461,692 shares of the company's stock worth $1,454,000 after acquiring an additional 355,926 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Clover Health Investments by 5,071.2% during the fourth quarter. Millennium Management LLC now owns 1,245,701 shares of the company's stock worth $3,924,000 after acquiring an additional 1,221,612 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Clover Health Investments by 90.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company's stock worth $2,616,000 after acquiring an additional 394,881 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Clover Health Investments during the first quarter worth $36,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CLOV. Canaccord Genuity Group cut their price objective 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. UBS Group cut their target price on Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, August 6th. Two equities research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $4.37.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, Director Anna U. Loengard bought 26,500 shares of Clover Health Investments stock in a transaction dated Wednesday, August 13th. The shares were acquired 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. The trade was a 852.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Conrad Wai sold 118,600 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total transaction of $390,194.00. Following the completion of the transaction, the chief executive officer owned 1,494,898 shares of the company's stock, valued at $4,918,214.42. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. 24.07% of the stock is owned by insiders.

Clover Health Investments Price Performance

Shares of CLOV traded down $0.01 on Friday, hitting $2.62. The company's stock had a trading volume of 2,863,044 shares, compared to its average volume of 8,216,543. The company has a market capitalization of $1.34 billion, a PE ratio of -32.75 and a beta of 1.91. Clover Health Investments, Corp. has a fifty-two week low of $2.12 and a fifty-two week high of $4.87. The company has a 50 day moving average price of $2.78 and a 200 day moving average price of $3.29.

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.