Clover Health Investments (NASDAQ:CLOV) Director Sells $229,687.20 in Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 67,160 shares of the stock in a transaction dated 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 transaction, the director directly owned 285,432 shares in the company, valued at approximately $976,177.44. This represents a 19.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Clover Health Investments Stock Up 3.2%

NASDAQ CLOV traded up $0.11 during trading on Tuesday, hitting $3.50. 7,219,924 shares of the stock traded hands, compared to its average volume of 6,197,448. The company has a market capitalization of $1.84 billion, a P/E ratio of -29.16 and a beta of 2.44. The firm has a 50-day simple moving average of $2.27 and a 200-day simple moving average of $2.39. Clover Health Investments, Corp. has a 12-month low of $1.58 and a 12-month high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The business 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%. As a group, research analysts predict that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Institutional Trading of Clover Health Investments

Hedge funds and other institutional investors have recently modified their holdings of the business. Alliancebernstein L.P. increased its holdings in Clover Health Investments by 1.2% in the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after buying an additional 5,085 shares during the last quarter. ProShare Advisors LLC lifted its position in Clover Health Investments by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock worth $176,000 after purchasing an additional 5,660 shares during the period. Swiss Life Asset Management Ltd lifted its position in shares of Clover Health Investments by 53.5% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock valued at $52,000 after acquiring an additional 5,926 shares during the last quarter. Allworth Financial LP raised its stake in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares during the period. Finally, Verition Fund Management LLC raised its stake in Clover Health Investments by 11.3% during the 4th quarter. Verition Fund Management LLC now owns 65,777 shares of the company’s stock valued at $155,000 after purchasing an additional 6,677 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CLOV shares. Leerink Partners lowered their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. 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 research note on Friday, March 20th. Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.90.

Clover Health Investments Company Profile

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.