Marshall Wace LLP Buys 2,360,902 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Marshall Wace LLP raised its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 167.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,769,765 shares of the company’s stock after buying an additional 2,360,902 shares during the period. Marshall Wace LLP owned about 0.75% of Clover Health Investments worth $11,875,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Phoenix Financial Ltd. raised its position in Clover Health Investments by 6.8% during the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock valued at $123,000 after purchasing an additional 2,500 shares in the last quarter. Steph & Co. lifted its position in Clover Health Investments by 33.3% in the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after buying an additional 5,000 shares during the last quarter. Arizona State Retirement System boosted its stake in Clover Health Investments by 6.3% in the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after buying an additional 6,990 shares in the last quarter. SignalPoint Asset Management LLC raised its stake in shares of Clover Health Investments by 6.2% during the fourth quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after acquiring an additional 9,390 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Clover Health Investments in the 4th quarter worth approximately $73,000. 19.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments 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 sale, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the transaction, the director now owns 273,227 shares of the company’s stock, valued at approximately $986,349.47. This represents a 42.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 327,500 shares of company stock valued at $1,197,500 in the last quarter. Company insiders own 22.28% of the company’s stock.

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $3.32 on Tuesday. The stock has a market capitalization of $1.70 billion, a P/E ratio of -16.60 and a beta of 1.98. Clover Health Investments, Corp. has a one year low of $0.61 and a one year high of $4.87. The business’s 50 day simple moving average is $3.79 and its two-hundred day simple moving average is $3.76.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price 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.

Clover Health Investments Company 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.