ADAR1 Capital Management LLC Makes New $73,000 Investment in Clover Health Investments, Corp. (NASDAQ:CLOV)

ADAR1 Capital Management LLC acquired a new position in Clover Health Investments, Corp. (NASDAQ:CLOV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,300 shares of the company’s stock, valued at approximately $73,000.

A number of other large investors have also recently made changes to their positions in the stock. Steph & Co. raised 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 worth $63,000 after acquiring an additional 5,000 shares during the period. Thoroughbred Financial Services LLC bought a new position in shares of Clover Health Investments in the fourth quarter worth approximately $84,000. HighTower Advisors LLC purchased a new stake in shares of Clover Health Investments in the third quarter worth $97,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Clover Health Investments during the 3rd quarter valued at $105,000. Finally, Ballentine Partners LLC purchased a new position in shares of Clover Health Investments during the 4th quarter valued at $131,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CLOV. Craig Hallum started coverage on Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price target for the company. Canaccord Genuity Group upped their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd.

Clover Health Investments Price Performance

Clover Health Investments stock opened at $3.21 on Tuesday. Clover Health Investments, Corp. has a 1 year low of $0.61 and a 1 year high of $4.87. The firm’s 50 day moving average price is $3.99 and its 200-day moving average price is $3.73. The stock has a market cap of $1.64 billion, a P/E ratio of -16.05 and a beta of 1.98.

Insider Activity at Clover Health Investments

In related news, General Counsel Karen Soares sold 52,500 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the sale, the general counsel now directly owns 1,299,663 shares in the company, valued at approximately $4,938,719.40. The trade was a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brady Patrick Priest sold 75,000 shares of Clover Health Investments 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 completion of the sale, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. The trade was a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,500 shares of company stock valued at $1,197,500. Corporate 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.