American Century Companies Inc. Acquires 492,527 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV)

American Century Companies Inc. boosted its stake in shares of Clover Health Investments, Corp. (NASDAQ:CLOV) by 181.0% during the 4th quarter, HoldingsChannel reports. The fund owned 764,694 shares of the company’s stock after purchasing an additional 492,527 shares during the period. American Century Companies Inc.’s holdings in Clover Health Investments were worth $2,409,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Graypoint LLC purchased a new position in shares of Clover Health Investments during the 4th quarter worth about $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Clover Health Investments during the third quarter valued at approximately $1,228,000. JPMorgan Chase & Co. purchased a new stake in shares of Clover Health Investments in the third quarter worth approximately $448,000. State Street Corp lifted its stake in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after acquiring an additional 862,621 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Clover Health Investments during the 3rd quarter valued at $477,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV 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 business has a fifty day moving average price of $3.99 and a 200 day moving average price of $3.73. The stock has a market capitalization of $1.64 billion, a P/E ratio of -16.05 and a beta of 1.98.

Analyst Ratings Changes

CLOV has been the subject of a number of research reports. Craig Hallum assumed coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a research note on Monday, March 3rd.

Insiders Place Their Bets

In other news, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $3.80, for a total value of $199,500.00. Following the completion of the sale, the general counsel now owns 1,299,663 shares of the company’s stock, valued at $4,938,719.40. This trade represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the transaction, the director now directly 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. Over the last ninety days, insiders sold 327,500 shares of company stock worth $1,197,500. 22.28% of the stock is owned by corporate insiders.

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.