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

Clover Health Investments, Corp. (NASDAQ:CLOV) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat reports. One 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 price objective among analysts that have updated their coverage on the stock in the last year is $3.8167.

A number of analysts have recently weighed in on the company. Canaccord Genuity Group increased their price target on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. Finally, UBS Group raised their price target on shares of Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research note on Thursday, June 11th.

Clover Health Investments Price Performance

NASDAQ:CLOV traded down $0.24 during mid-day trading on Friday, reaching $4.44. The stock had a trading volume of 6,002,803 shares, compared to its average volume of 6,831,522. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of -37.00 and a beta of 2.41. Clover Health Investments has a 1-year low of $1.58 and a 1-year high of $5.59. The stock’s 50 day simple moving average is $4.20 and its two-hundred day simple moving average is $2.90.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $749.19 million for 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%.

Insiders Place Their Bets

In other news, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $3.42, for a total transaction of $229,687.20. Following the transaction, the director directly owned 285,432 shares of the company’s stock, valued at approximately $976,177.44. This trade represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Toy sold 313,476 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 9,609,825 shares in the company, valued at $51,124,269. This trade represents a 3.16% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 715,884 shares of company stock worth $3,202,372. 23.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Clover Health Investments

Large investors have recently bought and sold shares of the stock. Divisadero Street Capital Management LP bought a new position in Clover Health Investments during the third quarter valued at about $8,470,000. Vanguard Group Inc. grew its holdings in Clover Health Investments by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock worth $55,192,000 after acquiring an additional 425,904 shares during the period. Consolidated Portfolio Review Corp raised its position in Clover Health Investments by 178.0% in the third quarter. Consolidated Portfolio Review Corp now owns 104,442 shares of the company’s stock worth $320,000 after acquiring an additional 66,868 shares in the last quarter. ProShare Advisors LLC raised 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 acquiring an additional 5,660 shares in the last quarter. Finally, Mission Wealth Management LP lifted its holdings in Clover Health Investments by 41.9% in the 4th quarter. Mission Wealth Management LP now owns 36,392 shares of the company’s stock valued at $86,000 after acquiring an additional 10,742 shares during the last quarter. Institutional investors and hedge funds 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.