Investors Buy Large Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading on Thursday. Traders bought 44,769 call options on the stock. This is an increase of 86% compared to the average daily volume of 24,046 call options.

Insider Activity at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 98,039 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares of the company’s stock, valued at $7,181,581.44. This trade represents a 4.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the sale, the director directly owned 285,432 shares of the company’s stock, valued at $976,177.44. This represents a 19.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 340,199 shares of company stock valued at $954,534 over the last three months. Insiders own 23.51% of the company’s stock.

Hedge Funds Weigh In On Clover Health Investments

Institutional investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP acquired a new position in Clover Health Investments in the third quarter valued at $8,470,000. Principal Financial Group Inc. increased its stake in Clover Health Investments by 1,590.3% in the third quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after purchasing an additional 456,715 shares during the last quarter. Vanguard Group Inc. increased its stake in Clover Health Investments by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after purchasing an additional 425,904 shares during the last quarter. Consolidated Portfolio Review Corp increased its stake in Clover Health Investments by 178.0% in the third quarter. Consolidated Portfolio Review Corp now owns 104,442 shares of the company’s stock valued at $320,000 after purchasing an additional 66,868 shares during the last quarter. Finally, 111 Capital acquired a new position in Clover Health Investments in the third quarter valued at $42,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLOV has been the subject of several research reports. Leerink Partners reduced their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Canaccord Genuity Group reduced their price objective on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a report on Friday, March 20th. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.90.

Clover Health Investments Trading Up 17.7%

Shares of NASDAQ CLOV traded up $0.64 during trading on Thursday, reaching $4.23. The company had a trading volume of 15,448,890 shares, compared to its average volume of 6,247,688. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $4.21. The stock has a market capitalization of $2.23 billion, a PE ratio of -35.12 and a beta of 2.44. The stock has a 50-day moving average price of $2.49 and a two-hundred day moving average price of $2.40.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The company had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. On average, sell-side analysts predict that Clover Health Investments will post -0.02 EPS for the current year.

About Clover Health Investments

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.