Cubist Systematic Strategies LLC Cuts Stock Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Cubist Systematic Strategies LLC lessened its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 70.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 90,074 shares of the company’s stock after selling 211,947 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Clover Health Investments were worth $284,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CLOV. Marshall Wace LLP boosted its stake in shares of Clover Health Investments by 167.6% during the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock worth $11,875,000 after buying an additional 2,360,902 shares during the period. Teacher Retirement System of Texas purchased a new position in Clover Health Investments in the fourth quarter valued at about $2,769,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clover Health Investments during the 4th quarter worth approximately $1,860,000. American Century Companies Inc. increased its stake in shares of Clover Health Investments by 181.0% during the 4th quarter. American Century Companies Inc. now owns 764,694 shares of the company’s stock worth $2,409,000 after purchasing 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 in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the sale, the director now owns 273,227 shares in the company, valued at $986,349.47. This represents a 42.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction dated 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 owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. This trade represents a 3.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is currently owned by corporate insiders.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $3.55 on Friday. Clover Health Investments, Corp. has a 12 month low of $0.86 and a 12 month high of $4.87. The firm has a market capitalization of $1.81 billion, a P/E ratio of -17.75 and a beta of 1.99. The company’s fifty day moving average price is $3.55 and its two-hundred day moving average price is $3.69.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. The firm had revenue of $462.33 million for the quarter, compared to analyst estimates 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, sell-side analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current year.

Clover Health Investments Company 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.