Graham Capital Management L.P. Acquires New Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Graham Capital Management L.P. bought a new stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 282,264 shares of the company's stock, valued at approximately $889,000. Graham Capital Management L.P. owned 0.06% of Clover Health Investments at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new position in Clover Health Investments during the fourth quarter valued at $156,000. Caxton Associates LP lifted its position in Clover Health Investments by 954.4% during the fourth quarter. Caxton Associates LP now owns 124,460 shares of the company's stock valued at $392,000 after purchasing an additional 112,656 shares during the period. Balyasny Asset Management L.P. lifted its position in Clover Health Investments by 404.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 438,060 shares of the company's stock valued at $1,380,000 after purchasing an additional 351,241 shares during the period. BNP Paribas Financial Markets acquired a new position in Clover Health Investments during the fourth quarter valued at $919,000. Finally, Algert Global LLC lifted its position in Clover Health Investments by 192.8% during the fourth quarter. Algert Global LLC now owns 428,781 shares of the company's stock valued at $1,351,000 after purchasing an additional 282,321 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 75,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the sale, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. The trade was a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now directly owns 273,227 shares of the company's stock, valued at $986,349.47. This represents a 42.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock valued at $1,197,500 over the last 90 days. Corporate insiders own 22.28% of the company's stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group boosted their target price on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd.

Clover Health Investments Trading Up 4.1%

CLOV traded up $0.14 on Friday, reaching $3.55. The stock had a trading volume of 5,230,009 shares, compared to its average volume of 6,680,984. Clover Health Investments, Corp. has a 12-month low of $0.86 and a 12-month high of $4.87. The business's 50-day moving average price is $3.55 and its two-hundred day moving average price is $3.69. The company has a market cap of $1.81 billion, a P/E ratio of -17.75 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. The company had revenue of $462.33 million during the quarter, compared to analysts' expectations of $466.93 million. As a group, analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share for the current year.

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.