Y Intercept Hong Kong Ltd Purchases New Shares in Clover Health Investments, Corp. (NASDAQ:CLOV)

Y Intercept Hong Kong Ltd purchased a new position in Clover Health Investments, Corp. (NASDAQ:CLOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,829 shares of the company’s stock, valued at approximately $135,000.

A number of other large investors also recently added to or reduced their stakes in CLOV. Geode Capital Management LLC grew its position in shares of Clover Health Investments by 21.9% in the third quarter. Geode Capital Management LLC now owns 4,828,701 shares of the company’s stock valued at $13,622,000 after purchasing an additional 868,501 shares during the period. State Street Corp boosted its holdings in Clover Health Investments by 65.0% in the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after buying an additional 862,621 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Clover Health Investments by 75.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after buying an additional 485,987 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Clover Health Investments during the 3rd quarter worth approximately $1,228,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Clover Health Investments during the third quarter valued at approximately $735,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CLOV. Canaccord Genuity Group boosted their price target on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research report on Monday. Craig Hallum initiated coverage on shares of Clover Health Investments in a report on Tuesday, December 17th. They set a “buy” rating and a $6.00 target price for the company.

Clover Health Investments Price Performance

CLOV opened at $3.83 on Thursday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -19.15 and a beta of 2.00. The company’s 50 day simple moving average is $4.07 and its two-hundred day simple moving average is $3.61. Clover Health Investments, Corp. has a 1-year low of $0.61 and a 1-year high of $4.87.

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.