Clover Health Investments, Corp. (NASDAQ:CLOV) Given Average Rating of “Hold” by Brokerages

Clover Health Investments, Corp. (NASDAQ:CLOV) has received an average recommendation of “Hold” from the five research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.25.

CLOV has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Canaccord Genuity Group upped their price target on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, UBS Group upped their price objective on shares of Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research report on Thursday, June 11th.

Clover Health Investments Stock Down 3.0%

Shares of NASDAQ:CLOV opened at $4.14 on Thursday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -34.50 and a beta of 2.47. Clover Health Investments has a 52 week low of $1.58 and a 52 week high of $5.59. The firm has a 50 day moving average of $4.62 and a 200 day moving average of $3.14.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The firm had revenue of $749.19 million for the quarter, compared to analysts’ expectations of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%.

Insider Activity

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 12,102 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total value of $58,815.72. Following the transaction, the vice president directly owned 299,067 shares in the company, valued at $1,453,465.62. The trade was a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Toy sold 313,476 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $5.32, for a total value of $1,667,692.32. Following the completion of the transaction, the chief executive officer owned 9,609,825 shares in the company, valued at $51,124,269. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 715,884 shares of company stock valued at $3,202,372 in the last 90 days. 23.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently modified their holdings of CLOV. 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 period. RFG Advisory LLC acquired a new stake in shares of Clover Health Investments during the first quarter worth about $35,000. Ketron Financial acquired a new stake in shares of Clover Health Investments during the fourth quarter worth about $39,000. AXQ Capital LP purchased a new position in shares of Clover Health Investments during the fourth quarter worth about $89,000. Finally, Global Retirement Partners LLC increased its position in Clover Health Investments by 2,115.3% in the 4th quarter. Global Retirement Partners LLC now owns 32,675 shares of the company’s stock valued at $77,000 after acquiring an additional 31,200 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.