Graham Capital Management L.P. Invests $889,000 in Clover Health Investments, Corp. (NASDAQ:CLOV)

Graham Capital Management L.P. acquired a new stake in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 282,264 shares of the company’s stock, valued at approximately $889,000. Graham Capital Management L.P. owned approximately 0.06% of Clover Health Investments as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Triumph Capital Management bought a new stake in shares of Clover Health Investments in the 4th quarter worth $45,000. Steph & Co. lifted its holdings in Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after purchasing an additional 5,000 shares during the last quarter. Parallax Volatility Advisers L.P. lifted its holdings in Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock valued at $63,000 after purchasing an additional 6,408 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Clover Health Investments in the fourth quarter worth about $73,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in shares of Clover Health Investments in the fourth quarter worth about $84,000. Institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Down 2.0%

Shares of CLOV opened at $3.40 on Wednesday. The stock has a market capitalization of $1.74 billion, a P/E ratio of -17.00 and a beta of 1.99. The firm has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $3.70. Clover Health Investments, Corp. has a twelve month low of $0.86 and a twelve month high of $4.87.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The business had revenue of $462.33 million during the quarter, compared to analysts’ expectations of $466.93 million. Clover Health Investments had a negative net margin of 5.92% and a negative return on equity of 25.46%. Sell-side analysts expect that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a report on Monday, March 3rd.

Insider Transactions at Clover Health Investments

In other news, Director Carladenise Armbrister Edwards sold 200,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was 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 of the company’s stock, valued at approximately $4,938,719.40. This represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 327,500 shares of company stock valued at $1,197,500. Company 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.