139,009 Shares in Clover Health Investments, Corp. (NASDAQ:CLOV) Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. has acquired 139,009 shares of Clover Health Investments, worth approximately $499,000, signaling growing institutional interest in the company.
• Insider activity revealed that CEO Conrad Wai sold 118,600 shares, decreasing his ownership by 7.35%, which may indicate company sentiment.
• Clover Health's stock recently traded at $2.85, with a 1-year range of $1.64 to $4.87, showcasing its volatility and presence in the market.

Jupiter Asset Management Ltd. purchased a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 139,009 shares of the company's stock, valued at approximately $499,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CLOV. Rhumbline Advisers boosted its stake in shares of Clover Health Investments by 80.5% during the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock worth $25,000 after acquiring an additional 3,160 shares during the period. Perigon Wealth Management LLC bought a new position in Clover Health Investments during the first quarter worth $36,000. Triumph Capital Management acquired a new position in shares of Clover Health Investments in the fourth quarter valued at $45,000. Parallax Volatility Advisers L.P. increased its holdings in shares of Clover Health Investments by 47.7% in the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after purchasing an additional 6,408 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in shares of Clover Health Investments in the fourth quarter valued at about $73,000. Institutional investors own 19.77% of the company's stock.

Analysts Set New Price Targets

CLOV has been the subject of several research analyst reports. UBS Group reduced their target price 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. Canaccord Genuity Group reduced 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.

Clover Health Investments Stock Performance

Shares of CLOV stock traded down $0.07 on Friday, hitting $2.15. The company's stock had a trading volume of 6,772,887 shares, compared to its average volume of 7,365,754. Clover Health Investments, Corp. has a fifty-two week low of $1.84 and a fifty-two week high of $4.87. The company has a market capitalization of $1.09 billion, a PE ratio of -26.81 and a beta of 1.91. The stock's 50 day moving average is $2.92 and its 200-day moving average is $3.50.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 2.68% and a negative return on equity of 12.24%. The firm had revenue of $462.33 million during the quarter, compared to the consensus estimate of $466.93 million. On average, research analysts forecast that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

Insider Buying and Selling at Clover Health Investments

In related news, CEO Conrad Wai sold 91,197 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total value of $302,774.04. Following the completion of the sale, the chief executive officer directly owned 1,403,701 shares in the company, valued at approximately $4,660,287.32. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 24.07% of the company's stock.

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.