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

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,043,543 shares of the company’s stock after selling 84,628 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.21% of Clover Health Investments worth $3,287,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Arizona State Retirement System boosted its stake in Clover Health Investments by 6.3% during the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after acquiring an additional 6,990 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Clover Health Investments during the fourth quarter valued at approximately $135,000. Palacios Wealth Management LLC bought a new stake in shares of Clover Health Investments in the 4th quarter worth approximately $131,000. Ballentine Partners LLC purchased a new stake in shares of Clover Health Investments in the 4th quarter worth approximately $131,000. Finally, SignalPoint Asset Management LLC increased its position in 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 buying an additional 9,390 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

Insider Activity at Clover Health Investments

In other Clover Health Investments news, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the completion of the sale, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 273,227 shares in the company, valued at approximately $986,349.47. This trade represents a 42.26 % decrease in their ownership of the stock. 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. Insiders own 22.28% of the company’s stock.

Clover Health Investments Trading Up 1.1 %

Shares of CLOV opened at $3.70 on Tuesday. Clover Health Investments, Corp. has a 12 month low of $0.61 and a 12 month high of $4.87. The business’s fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $3.63. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -18.50 and a beta of 2.00.

Analyst Ratings Changes

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

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.