Algert Global LLC Has $1.35 Million Stock Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Algert Global LLC boosted its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 192.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 428,781 shares of the company’s stock after acquiring an additional 282,321 shares during the quarter. Algert Global LLC’s holdings in Clover Health Investments were worth $1,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CLOV. Marshall Wace LLP raised its stake in shares of Clover Health Investments by 167.6% during the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock worth $11,875,000 after purchasing an additional 2,360,902 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Clover Health Investments during the fourth quarter valued at approximately $2,769,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clover Health Investments in the fourth quarter valued at approximately $1,860,000. American Century Companies Inc. grew its position in Clover Health Investments by 181.0% in the fourth quarter. American Century Companies Inc. now owns 764,694 shares of the company’s stock worth $2,409,000 after acquiring an additional 492,527 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Clover Health Investments by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock worth $61,693,000 after purchasing an additional 386,499 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,418,151 shares in the company, valued at $8,898,795.68. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total transaction of $199,500.00. Following the sale, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at approximately $4,938,719.40. This trade represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is currently owned by corporate insiders.

Clover Health Investments Trading Down 6.4 %

Shares of NASDAQ CLOV opened at $3.51 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -17.55 and a beta of 1.99. The business has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $3.71. Clover Health Investments, Corp. has a one year low of $0.79 and a one year high of $4.87.

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