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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading activity on Monday. Traders acquired 37,742 call options on the stock. This represents an increase of 42% compared to the average volume of 26,552 call options.

Insider Buying and Selling at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 175,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total value of $379,750.00. Following the transaction, the chief executive officer directly owned 1,998,584 shares in the company, valued at approximately $4,336,927.28. This represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.07% of the company’s stock.

Institutional Trading of Clover Health Investments

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP boosted its stake in Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after buying an additional 6,527 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Clover Health Investments in the first quarter worth approximately $37,000. Envestnet Asset Management Inc. purchased a new stake in Clover Health Investments in the second quarter worth approximately $31,000. Lido Advisors LLC purchased a new stake in Clover Health Investments in the second quarter worth approximately $32,000. Finally, Abel Hall LLC purchased a new stake in Clover Health Investments in the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Trading Up 8.7%

CLOV stock opened at $1.87 on Tuesday. The stock has a market cap of $981.13 million, a price-to-earnings ratio of -11.00 and a beta of 2.24. The company’s 50 day moving average is $2.00 and its 200 day moving average is $2.47. Clover Health Investments has a 1-year low of $1.58 and a 1-year high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The firm had revenue of $487.71 million during the quarter, compared to analysts’ expectations of $467.06 million. Clover Health Investments had a negative return on equity of 25.17% and a negative net margin of 4.45%. As a group, sell-side analysts forecast that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Leerink Partners decreased their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th. Canaccord Genuity Group decreased their price objective on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. Finally, Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.90.

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.