Short Interest in Clover Health Investments, Corp. (NASDAQ:CLOV) Decreases By 22.4%

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 11,900,000 shares, a decline of 22.4% from the February 13th total of 15,330,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,890,000 shares, the short-interest ratio is presently 2.0 days.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Canaccord Genuity Group increased their price target 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 Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target for the company.

Insider Activity at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 75,000 shares of the business’s 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 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. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,500 shares of company stock worth $1,197,500. Company insiders own 22.28% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its stake in Clover Health Investments by 4.2% in the 4th quarter. California State Teachers Retirement System now owns 351,446 shares of the company’s stock valued at $1,107,000 after buying an additional 14,068 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Clover Health Investments during the 4th quarter valued at $135,000. Mackenzie Financial Corp grew its position in shares of Clover Health Investments by 211.3% during the 4th quarter. Mackenzie Financial Corp now owns 78,193 shares of the company’s stock valued at $246,000 after purchasing an additional 53,076 shares in the last quarter. Alpine Global Management LLC purchased a new position in Clover Health Investments in the fourth quarter worth $226,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Clover Health Investments by 90.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company’s stock worth $2,616,000 after acquiring an additional 394,881 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Down 2.0 %

Shares of NASDAQ:CLOV traded down $0.08 during mid-day trading on Wednesday, reaching $3.74. The company had a trading volume of 361,864 shares, compared to its average volume of 6,917,495. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -18.67 and a beta of 2.00. The company’s 50-day moving average price is $4.13 and its 200-day moving average price is $3.64. Clover Health Investments has a one year low of $0.61 and a one year 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.