Charles Schwab Investment Management Inc. Cuts Position in Clover Health Investments, Corp. (NASDAQ:CLOV)

Charles Schwab Investment Management Inc. lessened its holdings in Clover Health Investments, Corp. (NASDAQ:CLOV) by 8.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,751,057 shares of the company’s stock after selling 249,448 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Clover Health Investments were worth $8,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Steph & Co. increased its stake in shares of Clover Health Investments by 33.3% in 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. SignalPoint Asset Management LLC increased its stake in shares of Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock valued at $504,000 after purchasing an additional 9,390 shares in the last quarter. Parallax Volatility Advisers L.P. purchased a new position in shares of Clover Health Investments in the 3rd quarter valued at about $38,000. KBC Group NV purchased a new position in shares of Clover Health Investments in the 3rd quarter valued at about $53,000. Finally, Silverleafe Capital Partners LLC boosted its holdings in Clover Health Investments by 182.9% in the 4th quarter. Silverleafe Capital Partners LLC now owns 45,000 shares of the company’s stock worth $142,000 after buying an additional 29,091 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Up 1.6 %

CLOV stock opened at $3.72 on Friday. Clover Health Investments, Corp. has a 12-month low of $0.61 and a 12-month high of $4.87. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -18.60 and a beta of 2.00. The business’s 50-day moving average is $4.13 and its 200 day moving average is $3.66.

Wall Street Analyst Weigh In

CLOV has been the topic of several research analyst reports. Canaccord Genuity Group lifted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a 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 objective on the stock.

Insider Buying and Selling

In other news, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’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 transaction, the director now directly owns 273,227 shares in the company, valued at $986,349.47. The trade was a 42.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brady Patrick Priest sold 75,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. This represents 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 worth $1,197,500. Insiders own 22.28% of the company’s stock.

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.