Clover Health Investments Target of Unusually High Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) saw some unusual options trading activity on Thursday. Traders acquired 44,769 call options on the stock. This is an increase of 86% compared to the typical volume of 24,046 call options.

Analyst Upgrades and Downgrades

CLOV has been the subject of several research analyst reports. Leerink Partners cut their target price on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research note on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Finally, Canaccord Genuity Group lowered their price objective on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. One investment 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. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.90.

Insider Activity at Clover Health Investments

In related news, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $3.42, for a total transaction of $229,687.20. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Conrad Wai sold 220,426 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $879,499.74. Following the transaction, the chief executive officer directly owned 1,390,056 shares of the company’s stock, valued at $5,546,323.44. The trade was a 13.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 560,625 shares of company stock valued at $1,834,034. Corporate insiders own 23.51% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its stake in shares of Clover Health Investments by 24.1% in the first quarter. California State Teachers Retirement System now owns 497,006 shares of the company’s stock valued at $875,000 after acquiring an additional 96,458 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Clover Health Investments in the first quarter valued at $309,000. Sei Investments Co. raised its stake in shares of Clover Health Investments by 109.7% in the first quarter. Sei Investments Co. now owns 88,701 shares of the company’s stock valued at $156,000 after acquiring an additional 46,404 shares during the period. State of Wyoming raised its stake in shares of Clover Health Investments by 21.3% in the first quarter. State of Wyoming now owns 93,213 shares of the company’s stock valued at $164,000 after acquiring an additional 16,352 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Clover Health Investments in the first quarter valued at $66,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Clover Health Investments Stock Up 16.4%

CLOV stock opened at $4.18 on Friday. Clover Health Investments has a 52 week low of $1.58 and a 52 week high of $4.23. The company has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $2.42. The firm has a market capitalization of $2.20 billion, a P/E ratio of -34.83 and a beta of 2.44.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million for the quarter, compared to the consensus estimate of $714.89 million. As a group, 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.