Clover Health Investments, Corp. $CLOV Shares Sold by Belfer Management LLC

Belfer Management LLC trimmed its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 59.7% during the second quarter, HoldingsChannel.com reports. The firm owned 10,787 shares of the company’s stock after selling 16,005 shares during the period. Clover Health Investments makes up about 0.5% of Belfer Management LLC’s portfolio, making the stock its 16th biggest holding. Belfer Management LLC’s holdings in Clover Health Investments were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CLOV. Millennium Management LLC raised its position in shares of Clover Health Investments by 365.9% in the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company’s stock valued at $20,836,000 after purchasing an additional 4,558,305 shares in the last quarter. GMT Capital Corp acquired a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $4,686,000. Vanguard Group Inc. raised its position in shares of Clover Health Investments by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock valued at $73,883,000 after acquiring an additional 994,904 shares in the last quarter. 8 Knots Management LLC acquired a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $2,936,000. Finally, Caxton Associates LLP acquired a new stake in shares of Clover Health Investments during the 1st quarter valued at approximately $1,599,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Conrad Wai sold 118,600 shares of the company’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total transaction of $390,194.00. Following the completion of the transaction, the chief executive officer directly owned 1,494,898 shares in the company, valued at $4,918,214.42. This represents a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anna U. Loengard acquired 26,500 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average price of $2.59 per share, with a total value of $68,635.00. Following the completion of the purchase, the director owned 29,610 shares in the company, valued at $76,689.90. The trade was a 852.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CLOV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday. UBS Group dropped their price target on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Canaccord Genuity Group dropped their price target on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Clover Health Investments presently has an average rating of “Hold” and an average price target of $4.37.

Clover Health Investments Price Performance

Shares of CLOV opened at $2.56 on Friday. The company has a market cap of $1.31 billion, a P/E ratio of -32.00 and a beta of 2.10. The stock has a fifty day moving average price of $2.76 and a 200 day moving average price of $3.06. Clover Health Investments, Corp. has a 12 month low of $2.12 and a 12 month high of $4.87.

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.