Traders Purchase High Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of some unusual options trading on Wednesday. Traders acquired 49,034 call options on the company. This represents an increase of 84% compared to the average daily volume of 26,618 call options.

Analysts Set New Price Targets

Several research firms recently weighed in on CLOV. Leerink Partners dropped their price target 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. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. Finally, Canaccord Genuity Group dropped their price target 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. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Clover Health Investments has an average rating of “Hold” and a consensus target price of $2.90.

Insiders Place Their Bets

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,998,584 shares in the company, valued at $4,336,927.28. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 23.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clover Health Investments

Institutional investors have recently modified their holdings of the business. Divisadero Street Capital Management LP acquired a new position in shares of Clover Health Investments during the 3rd quarter worth $8,470,000. Principal Financial Group Inc. lifted its stake in shares of Clover Health Investments by 1,590.3% in the 3rd quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after acquiring an additional 456,715 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in shares of Clover Health Investments by 25.0% in the 3rd quarter. Cambria Investment Management L.P. now owns 144,386 shares of the company’s stock valued at $442,000 after acquiring an additional 28,872 shares during the last quarter. Consolidated Portfolio Review Corp lifted its stake in shares of Clover Health Investments by 178.0% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 104,442 shares of the company’s stock valued at $320,000 after acquiring an additional 66,868 shares during the last quarter. Finally, 111 Capital bought a new position in shares of Clover Health Investments in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Trading Up 10.5%

NASDAQ CLOV traded up $0.35 during midday trading on Wednesday, hitting $3.63. The company had a trading volume of 10,190,103 shares, compared to its average volume of 6,014,415. The company has a market capitalization of $1.90 billion, a PE ratio of -30.29 and a beta of 2.44. The firm has a 50-day moving average price of $2.15 and a 200-day moving average price of $2.40. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The company had revenue of $749.19 million during the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. On average, equities analysts anticipate 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.