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

Clover Health Investments, Corp. (NASDAQ:CLOV) has received a consensus rating of “Hold” from the five research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $4.3333.

CLOV has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st. UBS Group boosted their target price on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Wednesday, June 24th.

Insider Buying and Selling

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total transaction of $58,815.72. Following the sale, the vice president owned 299,067 shares of the company’s stock, valued at $1,453,465.62. The trade was a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $5.32, for a total value of $1,667,692.32. Following the transaction, the chief executive officer owned 9,609,825 shares of the company’s stock, valued at $51,124,269. This trade represents a 3.16% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 638,483 shares of company stock valued at $3,035,848 in the last three months. 23.51% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Bank of America Corp DE raised its holdings in Clover Health Investments by 217.5% during 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Clover Health Investments by 69.8% in the fourth 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 period. First Trust Advisors LP bought a new position in Clover Health Investments during the 2nd quarter valued at $4,149,000. UBS Group AG boosted its stake in Clover Health Investments by 155.5% during the 3rd quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock valued at $6,983,000 after purchasing an additional 1,388,761 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Clover Health Investments during the 2nd quarter valued at $6,346,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Price Performance

Shares of CLOV opened at $4.15 on Monday. Clover Health Investments has a 12 month low of $1.58 and a 12 month high of $5.59. The stock has a fifty day moving average price of $4.68 and a 200 day moving average price of $3.31. The company has a market cap of $2.20 billion, a P/E ratio of -82.98 and a beta of 2.48.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%.The company had revenue of $743.17 million for the quarter, compared to analysts’ expectations of $728.27 million.

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.