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

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 188,003 shares of the company’s stock, valued at approximately $592,000.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC acquired a new stake in Clover Health Investments in the 3rd quarter valued at about $298,000. JPMorgan Chase & Co. purchased a new stake in shares of Clover Health Investments during the third quarter worth approximately $448,000. Steph & Co. raised its holdings in Clover Health Investments by 33.3% in 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 in the last quarter. SignalPoint Asset Management LLC lifted its stake 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 acquiring an additional 9,390 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Clover Health Investments during the 4th quarter worth approximately $131,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Clover Health Investments

In other news, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the transaction, the director now directly owns 273,227 shares in the company, valued at approximately $986,349.47. This trade represents a 42.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Karen Soares sold 52,500 shares of Clover Health Investments stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the completion of the transaction, the general counsel now directly owns 1,299,663 shares in the company, valued at $4,938,719.40. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 327,500 shares of company stock valued at $1,197,500 in the last ninety days. Insiders own 22.28% of the company’s stock.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $3.41 on Friday. Clover Health Investments, Corp. has a 1 year low of $0.86 and a 1 year high of $4.87. The stock has a market cap of $1.74 billion, a P/E ratio of -17.05 and a beta of 1.99. The stock has a 50-day simple moving average of $3.55 and a 200-day simple moving average of $3.70.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results 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. The firm had revenue of $462.33 million during the quarter, compared to the consensus estimate of $466.93 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. On average, equities research analysts predict that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

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

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.