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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading activity on Friday. Investors bought 132,321 put options on the company. This represents an increase of approximately 240% compared to the typical volume of 38,885 put options.

Institutional Trading of Clover Health Investments

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its position in Clover Health Investments by 104.9% during the fourth quarter. SG Americas Securities LLC now owns 59,046 shares of the company’s stock valued at $139,000 after purchasing an additional 30,223 shares in the last quarter. Allworth Financial LP raised its position in shares of Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after acquiring an additional 6,527 shares in the last quarter. 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 period. Cambria Investment Management L.P. increased its position in 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 buying an additional 28,872 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in Clover Health Investments during the third quarter worth $132,000. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

CLOV has been the subject of a number of recent research reports. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Zacks Research lowered shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Canaccord Genuity Group reduced their price objective on Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a research note on Thursday, November 6th. Leerink Partners set a $3.00 price objective on shares of Clover Health Investments and gave the stock a “market perform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.23.

Clover Health Investments Trading Down 3.1%

NASDAQ CLOV opened at $2.54 on Friday. The company has a 50-day moving average price of $2.52 and a two-hundred day moving average price of $2.77. Clover Health Investments has a 52 week low of $2.12 and a 52 week high of $4.87. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -23.09 and a beta of 2.12.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.07). The business had revenue of $496.65 million during the quarter, compared to analysts’ expectations of $467.18 million. Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%. As a group, equities research analysts expect that Clover Health Investments will post -0.12 earnings per share for the current fiscal 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.