Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $2.90 Consensus PT from Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has received an average recommendation of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $2.90.

Several equities analysts have commented on CLOV shares. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Canaccord Genuity Group decreased their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research note on Friday, March 20th. Leerink Partners lowered their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th.

Clover Health Investments Price Performance

NASDAQ CLOV opened at $1.75 on Friday. The stock has a market capitalization of $918.17 million, a PE ratio of -10.29 and a beta of 2.15. Clover Health Investments has a 12-month low of $1.74 and a 12-month high of $3.92. The company has a 50 day moving average price of $2.10 and a two-hundred day moving average price of $2.53.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.05). Clover Health Investments had a negative return on equity of 25.17% and a negative net margin of 4.45%.The business had revenue of $487.71 million for the quarter, compared to analyst estimates of $467.06 million. As a group, equities analysts anticipate that Clover Health Investments will post -0.12 EPS for the current year.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the transaction, the chief executive officer owned 1,998,584 shares in the company, valued at $4,336,927.28. This trade represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 24.07% of the stock is currently owned by company insiders.

Institutional Trading of Clover Health Investments

A number of institutional investors and hedge funds have recently modified their holdings of CLOV. Geode Capital Management LLC boosted its holdings in shares of Clover Health Investments by 95.7% during the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock worth $27,467,000 after buying an additional 4,812,368 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of Clover Health Investments in the third quarter valued at about $8,470,000. Bank of America Corp DE increased its stake in shares of Clover Health Investments by 217.5% in the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after purchasing an additional 2,748,783 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Clover Health Investments by 69.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after purchasing an additional 1,494,043 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Clover Health Investments during the 2nd quarter worth about $4,149,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover’s offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.