Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,043,543 shares of the company's stock after selling 84,628 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Clover Health Investments worth $3,287,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Steph & Co. increased its position in shares of 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 purchasing an additional 5,000 shares during the last quarter. Arizona State Retirement System increased its position in shares of Clover Health Investments by 6.3% during the 4th quarter. Arizona State Retirement System now owns 118,265 shares of the company's stock valued at $373,000 after purchasing an additional 6,990 shares during the last quarter. SignalPoint Asset Management LLC increased its position in shares of Clover Health Investments by 6.2% during the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company's stock valued at $504,000 after purchasing an additional 9,390 shares during the last quarter. Sigma Planning Corp purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at about $29,000. Finally, Parallax Volatility Advisers L.P. purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at about $38,000. Institutional investors own 19.77% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a research report on Monday, March 3rd. Craig Hallum assumed coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a "buy" rating and a $6.00 price target for the company.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, General Counsel Karen Soares sold 52,500 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value 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. This represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brady Patrick Priest sold 75,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the transaction, the chief executive officer now owns 2,418,151 shares of the company's stock, valued at $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is owned by company insiders.

Clover Health Investments Price Performance

Shares of NASDAQ:CLOV traded up $0.06 during mid-day trading on Friday, reaching $3.72. 4,648,716 shares of the company traded hands, compared to its average volume of 6,877,978. The company's 50 day moving average price is $4.13 and its 200-day moving average price is $3.64. The firm has a market cap of $1.90 billion, a PE ratio of -18.60 and a beta of 2.00. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.87.

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.