Two Sigma Investments LP Sells 1,134,656 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

Two Sigma Investments LP lessened its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 69.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 504,295 shares of the company’s stock after selling 1,134,656 shares during the quarter. Two Sigma Investments LP owned 0.10% of Clover Health Investments worth $1,589,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Clover Health Investments by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock valued at $61,693,000 after acquiring an additional 386,499 shares during the period. Geode Capital Management LLC boosted its position in shares of Clover Health Investments by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock valued at $15,387,000 after acquiring an additional 53,760 shares during the period. Marshall Wace LLP boosted its position in shares of Clover Health Investments by 167.6% in the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after acquiring an additional 2,360,902 shares during the period. Millennium Management LLC boosted its position in shares of Clover Health Investments by 5,071.2% in the fourth quarter. Millennium Management LLC now owns 1,245,701 shares of the company’s stock valued at $3,924,000 after acquiring an additional 1,221,612 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Clover Health Investments by 16.0% in the fourth quarter. Northern Trust Corp now owns 1,085,626 shares of the company’s stock valued at $3,420,000 after acquiring an additional 149,714 shares during the period. Institutional investors own 19.77% of the company’s stock.

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 that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the sale, the director now directly owns 273,227 shares in the company, 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 this hyperlink. Also, CEO Brady Patrick Priest sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total transaction of $276,000.00. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. In the last three months, insiders have sold 327,500 shares of company stock valued at $1,197,500. 22.28% of the stock is owned by corporate insiders.

Clover Health Investments Stock Performance

CLOV opened at $3.10 on Wednesday. The firm has a market cap of $1.58 billion, a P/E ratio of -15.50 and a beta of 1.99. Clover Health Investments, Corp. has a 52-week low of $0.90 and a 52-week high of $4.87. The business’s fifty day moving average is $3.45 and its 200-day moving average is $3.66.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. The company had revenue of $462.33 million for the quarter, compared to analyst estimates of $466.93 million. Clover Health Investments had a negative return on equity of 25.46% and a negative net margin of 5.92%. On average, research analysts predict that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.