Wedbush Securities Inc. Has $32,000 Holdings in Clover Health Investments, Corp. (NASDAQ:CLOV)

Wedbush Securities Inc. lowered its stake in Clover Health Investments, Corp. (NASDAQ:CLOV - Free Report) by 94.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,000 shares of the company's stock after selling 161,000 shares during the period. Wedbush Securities Inc.'s holdings in Clover Health Investments were worth $32,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Steph & Co. lifted its position in Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company's stock worth $63,000 after purchasing an additional 5,000 shares during the period. Thoroughbred Financial Services LLC bought a new stake in shares of Clover Health Investments during the 4th quarter worth approximately $84,000. HighTower Advisors LLC bought a new stake in shares of Clover Health Investments during the 3rd quarter worth approximately $97,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Clover Health Investments during the 3rd quarter worth approximately $105,000. Finally, Ballentine Partners LLC bought a new position in Clover Health Investments in the fourth quarter valued at approximately $131,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Clover Health Investments

In other news, Director Carladenise Armbrister Edwards sold 200,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the sale, the director now directly 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 filing with the SEC, which is available through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of Clover Health Investments stock in a transaction 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 transaction, the general counsel now directly owns 1,299,663 shares of the company's stock, valued at $4,938,719.40. This represents a 3.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 327,500 shares of company stock worth $1,197,500. Insiders own 22.28% of the company's stock.

Clover Health Investments Price Performance

NASDAQ CLOV traded down $0.11 on Thursday, reaching $3.59. The company had a trading volume of 1,303,928 shares, compared to its average volume of 6,762,975. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -17.97 and a beta of 1.98. Clover Health Investments, Corp. has a fifty-two week low of $0.61 and a fifty-two week high of $4.87. The business has a 50 day moving average of $3.84 and a two-hundred day moving average of $3.75.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a "buy" rating in a report on Monday, March 3rd.

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.