Point72 Asia Singapore Pte. Ltd. Takes $592,000 Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 188,003 shares of the company's stock, valued at approximately $592,000.

Other institutional investors have also made changes to their positions in the company. Phoenix Financial Ltd. boosted its position in Clover Health Investments by 6.8% in the 4th quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock valued at $123,000 after buying an additional 2,500 shares during the last quarter. Steph & Co. lifted its stake in shares of Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company's stock valued at $63,000 after acquiring an additional 5,000 shares during the period. Parallax Volatility Advisers L.P. boosted its holdings in 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 acquiring an additional 6,408 shares during the last quarter. Arizona State Retirement System increased its position in Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock worth $373,000 after purchasing an additional 6,990 shares during the period. Finally, SignalPoint Asset Management LLC increased its position in Clover Health Investments by 6.2% in the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company's stock worth $504,000 after purchasing an additional 9,390 shares during the period. 19.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Clover Health Investments Price Performance

Shares of CLOV traded up $0.05 during mid-day trading on Monday, hitting $3.60. 5,478,842 shares of the company's stock were exchanged, compared to its average volume of 6,675,753. Clover Health Investments, Corp. has a 52 week low of $0.86 and a 52 week high of $4.87. The company has a market cap of $1.83 billion, a PE ratio of -18.00 and a beta of 1.99. The company has a 50-day simple moving average of $3.55 and a 200 day simple moving average of $3.69.

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

Insiders Place Their Bets

In other news, General Counsel Karen Soares sold 52,500 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the sale, the general counsel now owns 1,299,663 shares of the company's stock, valued at approximately $4,938,719.40. The trade was a 3.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brady Patrick Priest sold 75,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total transaction of $276,000.00. Following the sale, the chief executive officer now owns 2,418,151 shares in the company, valued at $8,898,795.68. The trade was a 3.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock worth $1,197,500 over the last three months. Insiders own 22.28% 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.