Virtu Financial LLC Buys New Holdings in Clover Health Investments, Corp. $CLOV

Key Points

• Virtu Financial LLC has acquired a new stake in Clover Health Investments, purchasing 148,875 shares valued at approximately $534,000.
• Various institutional investors, including Vanguard Group Inc. and Millennium Management LLC, have increased their stakes in Clover Health, indicating growing interest in the company.
• Clover Health's stock recently traded up 4.8%, with a current price of $2.62, while analysts have set varying price targets, with UBS lowering theirs from $4.50 to $3.00.

Virtu Financial LLC bought a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 148,875 shares of the company's stock, valued at approximately $534,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CLOV. Rhumbline Advisers raised its holdings in shares of Clover Health Investments by 80.5% during the first quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock valued at $25,000 after purchasing an additional 3,160 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Clover Health Investments in the 1st quarter worth approximately $36,000. Triumph Capital Management purchased a new stake in Clover Health Investments during the 4th quarter valued at $45,000. Deutsche Bank AG raised its stake in Clover Health Investments by 149.4% during the 1st quarter. Deutsche Bank AG now owns 16,307 shares of the company's stock valued at $59,000 after buying an additional 9,768 shares during the last quarter. Finally, Parallax Volatility Advisers L.P. lifted its holdings in shares of Clover Health Investments by 47.7% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock valued at $63,000 after buying an additional 6,408 shares during the period. Institutional investors own 19.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CLOV shares. 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 reduced their price target on shares of Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock traded up $0.04 on Monday, hitting $2.69. 2,407,637 shares of the company's stock were exchanged, compared to its average volume of 7,389,440. The stock has a market capitalization of $1.38 billion, a PE ratio of -33.56 and a beta of 1.91. Clover Health Investments, Corp. has a 1 year low of $2.12 and a 1 year high of $4.87. The company has a 50-day simple moving average of $2.84 and a 200-day simple moving average of $3.40.

Insider Activity

In related news, Director Anna U. Loengard acquired 26,500 shares of the stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average cost of $2.59 per share, with a total value of $68,635.00. Following the transaction, the director directly owned 29,610 shares in the company, valued at approximately $76,689.90. This represents a 852.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Conrad Wai sold 91,197 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total transaction of $302,774.04. Following the completion of the sale, the chief executive officer directly owned 1,403,701 shares of the company's stock, valued at $4,660,287.32. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.07% of the company's stock.

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.