Clover Health Investments (NASDAQ:CLOV) Stock Sees Unusually High Put Option Buying

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading on Monday. Stock traders acquired 22,313 put options on the stock. This represents an increase of approximately 36% compared to the typical volume of 16,415 put options.

Analyst Ratings Changes

CLOV has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, September 21st. Needham & Company LLC began coverage on Clover Health Investments in a research report on Wednesday, October 28th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Zacks Research raised Clover Health Investments to a “hold” rating in a research note on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Clover Health Investments currently has an average rating of “Hold” and an average target price of $5.00.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, CEO Conrad Wai sold 23,627 shares of Clover Health Investments stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $4.68, for a total value of $110,574.36. Following the sale, the chief executive officer owned 1,042,072 shares of the company’s stock, valued at $4,876,896.96. The trade was a 2.22% decrease in their position. The transaction was disclosed in a legal filing 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, insider Karen Soares sold 19,275 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $4.66, for a total value of $89,821.50. Following the sale, the insider directly owned 1,573,423 shares in the company, valued at $7,332,151.18. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 856,371 shares of company stock worth $3,870,740. 23.51% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Clover Health Investments during the second quarter worth $2,156,000. Bank of New York Mellon Corp bought a new position in shares of Clover Health Investments in the second quarter worth about $6,346,000. WINTON GROUP Ltd purchased a new position in Clover Health Investments in the 2nd quarter worth about $913,000. Lazard Asset Management LLC purchased a new position in Clover Health Investments in the 1st quarter worth about $309,000. Finally, AXQ Capital LP lifted its holdings in Clover Health Investments by 602.6% during the 2nd quarter. AXQ Capital LP now owns 146,569 shares of the company’s stock valued at $768,000 after buying an additional 125,708 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Performance

NASDAQ CLOV traded down $0.15 on Monday, hitting $4.31. 5,002,921 shares of the stock were exchanged, compared to its average volume of 5,806,081. The stock has a fifty day moving average price of $4.51 and a two-hundred day moving average price of $3.54. The firm has a market capitalization of $2.29 billion, a P/E ratio of -86.18 and a beta of 2.52. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. The business had revenue of $743.17 million for the quarter, compared to the consensus estimate of $728.27 million. Sell-side analysts expect that Clover Health Investments will post 0.06 earnings per share for the current fiscal year.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.

The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.

Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.