Clover Health Investments Sees Unusually High Options Volume (NASDAQ:CLOV)

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

Insider Transactions at Clover Health Investments

In related news, Director Anna U. Loengard acquired 137,000 shares of Clover Health Investments stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $0.73 per share, for a total transaction of $100,010.00. Following the completion of the purchase, the director now directly owns 538,841 shares of the company’s stock, valued at $393,353.93. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 21.82% of the company’s stock.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Clover Health Investments by 2.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 813,695 shares of the company’s stock worth $879,000 after acquiring an additional 20,813 shares during the last quarter. Swiss National Bank grew its holdings in shares of Clover Health Investments by 1.6% during the third quarter. Swiss National Bank now owns 782,200 shares of the company’s stock worth $845,000 after buying an additional 12,400 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Clover Health Investments by 4,040.8% during the third quarter. Citigroup Inc. now owns 372,421 shares of the company’s stock worth $402,000 after buying an additional 363,427 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Clover Health Investments by 6.4% during the third quarter. Commonwealth Equity Services LLC now owns 191,797 shares of the company’s stock worth $207,000 after buying an additional 11,588 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Clover Health Investments during the fourth quarter worth about $162,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Stock Down 0.8 %

Shares of NASDAQ CLOV opened at $0.86 on Friday. Clover Health Investments has a 52 week low of $0.61 and a 52 week high of $1.63. The firm has a 50-day moving average price of $0.74 and a 200 day moving average price of $0.89. The stock has a market capitalization of $427.58 million, a price-to-earnings ratio of -1.92 and a beta of 1.88.

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

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.