Counterpoint Mutual Funds LLC Increases Stake in Clover Health Investments, Corp. (NASDAQ:CLOV)

Counterpoint Mutual Funds LLC increased its position in shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 153.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,392 shares of the company's stock after buying an additional 141,148 shares during the period. Counterpoint Mutual Funds LLC's holdings in Clover Health Investments were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sigma Planning Corp bought a new stake in shares of Clover Health Investments in the 3rd quarter valued at about $29,000. Parallax Volatility Advisers L.P. bought a new position in Clover Health Investments in the third quarter worth approximately $38,000. KBC Group NV purchased a new stake in Clover Health Investments during the third quarter worth $53,000. Steph & Co. boosted its position in Clover Health Investments by 33.3% during the 4th 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. Finally, HighTower Advisors LLC purchased a new position in shares of Clover Health Investments in the 3rd quarter valued at $97,000. 19.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CLOV has been the subject of a number of analyst reports. Craig Hallum initiated coverage on Clover Health Investments in a research note on Tuesday, December 17th. They set a "buy" rating and a $6.00 price objective for the company. Canaccord Genuity Group raised their target price 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.

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Insider Activity

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $3.61, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Karen Soares sold 52,500 shares of the 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 completion of the transaction, 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. Insiders have sold 327,500 shares of company stock valued at $1,197,500 over the last ninety days. 22.28% of the stock is currently owned by insiders.

Clover Health Investments Stock Performance

CLOV stock traded up $0.06 during trading on Friday, reaching $3.72. The company had a trading volume of 4,653,930 shares, compared to its average volume of 6,877,985. Clover Health Investments, Corp. has a twelve month low of $0.61 and a twelve month high of $4.87. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -18.60 and a beta of 2.00. The firm has a 50-day simple moving average of $4.13 and a 200-day simple moving average of $3.64.

About Clover Health Investments

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.