Invesco Ltd. Has $4.22 Million Stake in Clover Health Investments, Corp. $CLOV

Key Points

• Invesco Ltd. reduced its stake in Clover Health Investments by 15.4%, leaving it with approximately 1.17 million shares valued at $4.21 million.
• Several institutional investors have modified their positions in Clover Health, with \Graham Capital Management entering a new position valued at $889,000 and \Barclays PLC increasing its holdings by 336.5%.
• Analysts have adjusted their target price for Clover Health, with UBS Group lowering it from $4.50 to $3.00, while maintaining a "neutral" rating on the stock.

Invesco Ltd. lowered its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,174,205 shares of the company's stock after selling 214,061 shares during the quarter. Invesco Ltd. owned approximately 0.23% of Clover Health Investments worth $4,215,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Clover Health Investments by 5.1% in the first quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company's stock worth $73,883,000 after acquiring an additional 994,904 shares during the last quarter. Millennium Management LLC raised its holdings in Clover Health Investments by 5,071.2% in the 4th quarter. Millennium Management LLC now owns 1,245,701 shares of the company's stock valued at $3,924,000 after buying an additional 1,221,612 shares during the last quarter. Northern Trust Corp raised its holdings in 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 buying an additional 149,714 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Clover Health Investments by 90.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company's stock valued at $2,616,000 after buying an additional 394,881 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Clover Health Investments in the 4th quarter valued at approximately $1,860,000. Institutional investors own 19.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Canaccord Genuity Group dropped 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 report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Clover Health Investments currently has an average rating of "Moderate Buy" and a consensus target price of $4.37.

Insider Activity at Clover Health Investments

In other news, Director Anna U. Loengard purchased 26,500 shares of the stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $2.59 per share, for a total transaction of $68,635.00. Following the acquisition, the director owned 29,610 shares in the company, valued at $76,689.90. This trade represents a 852.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Conrad Wai sold 118,600 shares of the firm'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 sale, the chief executive officer directly owned 1,494,898 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Clover Health Investments Stock Down 1.1%

Clover Health Investments stock traded down $0.03 during mid-day trading on Wednesday, hitting $2.66. 3,133,387 shares of the stock were exchanged, compared to its average volume of 7,657,440. Clover Health Investments, Corp. has a 12 month low of $2.12 and a 12 month high of $4.87. The firm's fifty day simple moving average is $2.77 and its two-hundred day simple moving average is $3.25. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -33.25 and a beta of 1.96.

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.