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

Marshall Wace LLP raised its holdings in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 167.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,769,765 shares of the company’s stock after purchasing an additional 2,360,902 shares during the period. Marshall Wace LLP’s holdings in Clover Health Investments were worth $11,875,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Steph & Co. increased its stake in Clover Health Investments by 33.3% during the 4th quarter. Steph & Co. now owns 20,000 shares of the company’s stock valued at $63,000 after purchasing an additional 5,000 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $73,000. Thoroughbred Financial Services LLC bought a new stake in shares of Clover Health Investments during the fourth quarter valued at approximately $84,000. HighTower Advisors LLC purchased a new position in Clover Health Investments in the 3rd quarter worth approximately $97,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Clover Health Investments in the 3rd quarter valued at approximately $105,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Stock Down 7.8 %

NASDAQ CLOV opened at $3.32 on Tuesday. Clover Health Investments, Corp. has a 52 week low of $0.61 and a 52 week high of $4.87. The company has a market capitalization of $1.70 billion, a P/E ratio of -16.60 and a beta of 1.98. The stock’s 50-day moving average price is $3.79 and its 200-day moving average price is $3.76.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Clover Health Investments news, CEO Brady Patrick Priest sold 75,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 in the company, valued at $8,898,795.68. The trade was a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was 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 owns 273,227 shares in the company, valued at $986,349.47. This represents a 42.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 327,500 shares of company stock worth $1,197,500 over the last three months. 22.28% of the stock is currently owned by company insiders.

About Clover Health Investments

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.