Teacher Retirement System of Texas Grows Stock Position in Clover Health Investments, Corp. $CLOV

Teacher Retirement System of Texas boosted its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 597,300 shares of the company’s stock after buying an additional 25,962 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of Clover Health Investments worth $1,666,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CLOV. Victory Capital Management Inc. increased its stake in Clover Health Investments by 704.2% in the first quarter. Victory Capital Management Inc. now owns 375,336 shares of the company’s stock worth $1,347,000 after purchasing an additional 328,665 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Clover Health Investments by 34.9% in the first quarter. Y Intercept Hong Kong Ltd now owns 57,787 shares of the company’s stock worth $207,000 after purchasing an additional 14,958 shares during the period. Wedbush Securities Inc. increased its stake in Clover Health Investments by 110.0% in the first quarter. Wedbush Securities Inc. now owns 21,000 shares of the company’s stock worth $75,000 after purchasing an additional 11,000 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Clover Health Investments in the first quarter worth $100,000. Finally, TradeLink Capital LLC purchased a new stake in Clover Health Investments in the first quarter worth $110,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Insider Activity

In other news, Director Anna U. Loengard purchased 26,500 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $2.59 per share, with a total value of $68,635.00. Following the transaction, the director owned 29,610 shares of the company’s stock, valued at $76,689.90. This represents a 852.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.07% of the company’s stock.

Clover Health Investments Trading Down 4.3%

CLOV opened at $3.52 on Wednesday. Clover Health Investments, Corp. has a 12-month low of $2.12 and a 12-month high of $4.87. The business’s fifty day simple moving average is $3.00 and its 200-day simple moving average is $3.01. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -44.00 and a beta of 2.07.

Analyst Ratings Changes

A number of analysts have weighed in on CLOV shares. UBS Group reduced their target price on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Canaccord Genuity Group reduced their target price on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Zacks Research upgraded Clover Health Investments from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 24th. Leerink Partners set a $3.00 target price on Clover Health Investments and gave the stock a “market perform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Clover Health Investments presently has an average rating of “Moderate Buy” and an average target price of $4.03.

Clover Health Investments 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.