174,157 Shares in Clover Health Investments, Corp. $CLOV Bought by WINTON GROUP Ltd

WINTON GROUP Ltd bought a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 174,157 shares of the company’s stock, valued at approximately $913,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLOV. Bank of New York Mellon Corp purchased a new stake in Clover Health Investments during the 2nd quarter worth about $6,346,000. Lazard Asset Management LLC purchased a new position in shares of Clover Health Investments in the 1st quarter valued at about $309,000. AXQ Capital LP increased its holdings in shares of Clover Health Investments by 602.6% in the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock valued at $768,000 after acquiring an additional 125,708 shares during the last quarter. Sei Investments Co. raised its position in shares of Clover Health Investments by 109.7% during the 1st quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock worth $156,000 after acquiring an additional 46,404 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Clover Health Investments by 24.1% during the 1st quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock worth $875,000 after acquiring an additional 96,458 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CLOV shares. UBS Group upped their price target on Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clover Health Investments in a report on Thursday. They set a “buy” rating and a $6.00 price objective on the stock. Wall Street Zen downgraded shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Canaccord Genuity Group upped their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.75.

Clover Health Investments Stock Performance

CLOV opened at $4.82 on Monday. The business’s 50-day simple moving average is $4.43 and its 200-day simple moving average is $3.55. Clover Health Investments, Corp. has a one year low of $1.58 and a one year high of $5.59. The stock has a market capitalization of $2.56 billion, a P/E ratio of -96.38 and a beta of 2.47.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $743.17 million during the quarter, compared to the consensus estimate of $728.27 million. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, CEO Andrew Toy sold 313,476 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $5.32, for a total value of $1,667,692.32. Following the completion of the sale, the chief executive officer owned 9,609,825 shares in the company, valued at approximately $51,124,269. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, VP Joseph Frank Oldakowski sold 12,102 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total value of $58,815.72. Following the completion of the sale, the vice president directly owned 299,067 shares of the company’s stock, valued at $1,453,465.62. The trade was a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 413,376 shares of company stock worth $2,134,769. 23.51% of the stock is currently owned by corporate insiders.

About Clover Health Investments

Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.

The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.