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

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Clover Health Investments, Corp. (NASDAQ:CLOV) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,043,543 shares of the company’s stock after selling 84,628 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Clover Health Investments were worth $3,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CLOV. Sigma Planning Corp bought a new position in shares of Clover Health Investments during the 3rd quarter valued at approximately $29,000. Parallax Volatility Advisers L.P. purchased a new position in Clover Health Investments during the third quarter valued at approximately $38,000. KBC Group NV bought a new position in shares of Clover Health Investments in the third quarter worth approximately $53,000. Steph & Co. boosted its holdings 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 period. Finally, HighTower Advisors LLC purchased a new stake in Clover Health Investments in the 3rd quarter worth $97,000. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

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

Clover Health Investments Stock Up 1.1 %

CLOV stock opened at $3.70 on Tuesday. The company has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $3.63. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.87. The firm has a market capitalization of $1.89 billion, a P/E ratio of -18.50 and a beta of 2.00.

Insider Activity at Clover Health Investments

In related news, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was 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 of the company’s stock, valued at approximately $986,349.47. This trade represents a 42.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments stock in a transaction 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 owns 2,418,151 shares of the company’s stock, valued at approximately $8,898,795.68. This trade represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 327,500 shares of company stock valued at $1,197,500. Insiders own 22.28% of the company’s stock.

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.