Clover Health Investments Target of Unusually High Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading on Wednesday. Stock investors bought 9,323 call options on the stock. This represents an increase of 67% compared to the average daily volume of 5,587 call options.

Clover Health Investments Price Performance

CLOV opened at $0.87 on Thursday. The business has a fifty day simple moving average of $0.74 and a 200 day simple moving average of $0.89. The company has a market capitalization of $431.20 million, a PE ratio of -1.93 and a beta of 1.88. Clover Health Investments has a 1 year low of $0.61 and a 1 year high of $1.63.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.06. The business had revenue of $510.25 million during the quarter, compared to the consensus estimate of $491.20 million. Clover Health Investments had a negative return on equity of 62.58% and a negative net margin of 10.49%. Equities analysts anticipate that Clover Health Investments will post -0.2 earnings per share for the current fiscal year.

Insider Transactions at Clover Health Investments

In other news, Director Anna U. Loengard purchased 137,000 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $0.73 per share, for a total transaction of $100,010.00. Following the purchase, the director now directly owns 538,841 shares of the company’s stock, valued at approximately $393,353.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Clover Health Investments

Institutional investors have recently modified their holdings of the stock. Swiss National Bank lifted its position in shares of Clover Health Investments by 1.6% during the 3rd quarter. Swiss National Bank now owns 782,200 shares of the company’s stock valued at $845,000 after acquiring an additional 12,400 shares during the period. Citigroup Inc. lifted its position in shares of Clover Health Investments by 4,040.8% during the 3rd quarter. Citigroup Inc. now owns 372,421 shares of the company’s stock valued at $402,000 after acquiring an additional 363,427 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Clover Health Investments during the 4th quarter valued at $162,000. Rathbones Group PLC acquired a new position in shares of Clover Health Investments during the 3rd quarter worth $27,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Clover Health Investments during the 3rd quarter worth $26,000. 19.77% of the stock is currently owned by institutional investors.

About Clover Health Investments

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.