Investors Purchase High Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading activity on Monday. Stock investors bought 41,195 call options on the company. This represents an increase of approximately 199% compared to the typical daily volume of 13,770 call options.

Clover Health Investments Trading Up 12.9%

CLOV stock opened at $2.89 on Tuesday. The firm’s 50-day moving average price is $3.13 and its two-hundred day moving average price is $3.59. Clover Health Investments has a 12-month low of $1.27 and a 12-month high of $4.87. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -57.80 and a beta of 1.86.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.12. Clover Health Investments had a negative net margin of 1.69% and a negative return on equity of 7.42%. The firm had revenue of $462.33 million for the quarter, compared to analysts’ expectations of $466.93 million. Equities analysts predict that Clover Health Investments will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds have recently modified their holdings of CLOV. Rhumbline Advisers boosted its stake in shares of Clover Health Investments by 80.5% during the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company’s stock valued at $25,000 after purchasing an additional 3,160 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in Clover Health Investments during the first quarter worth about $36,000. Integrated Wealth Concepts LLC bought a new stake in Clover Health Investments during the first quarter worth about $37,000. Triumph Capital Management bought a new stake in Clover Health Investments during the fourth quarter worth about $45,000. Finally, AQR Capital Management LLC bought a new stake in Clover Health Investments during the first quarter worth about $49,000. Hedge funds and other institutional investors own 19.77% 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.