Renaissance Technologies LLC Has $34.86 Million Stock Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Renaissance Technologies LLC trimmed its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,066,600 shares of the company's stock after selling 1,413,300 shares during the period. Renaissance Technologies LLC owned 2.21% of Clover Health Investments worth $34,860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLOV. Steph & Co. raised its position in shares of Clover Health Investments by 33.3% in the fourth 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 period. ADAR1 Capital Management LLC bought a new position in Clover Health Investments in the 4th quarter worth $73,000. Thoroughbred Financial Services LLC acquired a new position in Clover Health Investments during the 4th quarter worth $84,000. HighTower Advisors LLC bought a new stake in Clover Health Investments during the third quarter valued at about $97,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Clover Health Investments during the third quarter valued at about $105,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a research report on Monday, March 3rd.

Insider Activity

In other news, 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 value of $199,500.00. Following the completion of the transaction, the general counsel now directly owns 1,299,663 shares of the company's stock, valued at approximately $4,938,719.40. This represents a 3.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brady Patrick Priest sold 75,000 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. This represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 327,500 shares of company stock worth $1,197,500. Corporate insiders own 22.28% of the company's stock.

Clover Health Investments Price Performance

Shares of CLOV traded down $0.03 on Thursday, reaching $3.67. 1,775,438 shares of the stock traded hands, compared to its average volume of 6,764,712. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -18.17 and a beta of 1.98. The stock's 50-day moving average price is $3.84 and its 200-day moving average price is $3.75. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.87.

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.