Connor Clark & Lunn Investment Management Ltd. Has $3.08 Million Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 859,037 shares of the company's stock after selling 184,506 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.17% of Clover Health Investments worth $3,084,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CLOV. Deutsche Bank AG lifted its stake in Clover Health Investments by 149.4% in the first quarter. Deutsche Bank AG now owns 16,307 shares of the company's stock worth $59,000 after acquiring an additional 9,768 shares during the last quarter. Vanguard Group Inc. increased its stake in Clover Health Investments by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company's stock valued at $73,883,000 after buying an additional 994,904 shares during the period. Thoroughbred Financial Services LLC grew its stake in shares of Clover Health Investments by 275.8% during the 1st quarter. Thoroughbred Financial Services LLC now owns 100,840 shares of the company's stock worth $362,000 after purchasing an additional 74,005 shares during the period. Blair William & Co. IL acquired a new position in shares of Clover Health Investments during the 1st quarter worth $95,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in Clover Health Investments in the 1st quarter valued at about $499,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Price Performance

CLOV traded up $0.08 on Friday, hitting $2.65. The company had a trading volume of 7,007,227 shares, compared to its average volume of 10,407,031. The company's fifty day moving average price is $2.84 and its 200 day moving average price is $3.40. 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 cap of $1.36 billion, a price-to-earnings ratio of -33.13 and a beta of 1.91.

Wall Street Analyst Weigh In

CLOV has been the subject of a number of analyst reports. Canaccord Genuity Group cut their price objective on shares of 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 cut their price objective on shares of 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.

Insider Buying and Selling

In related news, Director Anna U. Loengard bought 26,500 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $2.59 per share, with a total value of $68,635.00. Following the completion of the purchase, the director owned 29,610 shares of the company's stock, valued at $76,689.90. This represents a 852.09% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Conrad Wai sold 118,600 shares of the firm'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 sale, 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 position. The disclosure for this sale can be found here. 24.07% of the stock is owned by insiders.

About Clover Health Investments

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.