State of Wyoming Increases Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

State of Wyoming increased its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 36.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 120,876 shares of the company’s stock after purchasing an additional 32,217 shares during the period. State of Wyoming’s holdings in Clover Health Investments were worth $381,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triumph Capital Management bought a new position in shares of Clover Health Investments during the fourth quarter worth $45,000. Parallax Volatility Advisers L.P. boosted its position in shares of Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock worth $63,000 after acquiring an additional 6,408 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Clover Health Investments during the fourth quarter worth $73,000. Thoroughbred Financial Services LLC bought a new position in shares of Clover Health Investments during the fourth quarter worth $84,000. Finally, Dark Forest Capital Management LP bought a new position in shares of Clover Health Investments during the fourth quarter worth $102,000. Institutional investors own 19.77% of the company’s stock.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 200,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 273,227 shares in the company, valued at $986,349.47. This trade represents a 42.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Karen Soares sold 52,500 shares of the 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 sale, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This represents a 3.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock worth $1,197,500 over the last 90 days. 22.28% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped 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.

Clover Health Investments Stock Performance

Shares of NASDAQ:CLOV opened at $3.69 on Wednesday. Clover Health Investments, Corp. has a fifty-two week low of $0.90 and a fifty-two week high of $4.87. The firm has a fifty day moving average price of $3.56 and a 200 day moving average price of $3.68. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -18.45 and a beta of 1.99.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 business had revenue of $462.33 million during the quarter, compared to analyst estimates of $466.93 million. As a group, research 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.