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

Key Points

• Analysts hold a consensus “Hold” rating on Clover Health, with three holds, one sell and one buy among five covering brokerages. The average 12-month price target is $4.33, though Canaccord raised its target to $5.50 and UBS to $5.00.
• Clover reported quarterly EPS of $0.05, exceeding the $0.04 consensus estimate, while revenue of $743.17 million also topped expectations of $728.27 million. Despite the beat, the company posted negative net margins and return on equity.
• The stock opened at $4.15, compared with a 52-week range of $1.58 to $5.59, and insiders sold 638,483 shares worth about $3.04 million during the last quarter. Institutional investors currently own 19.77% of the company.

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) have earned a consensus rating of "Hold" from the five brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.3333.

Several research analysts have weighed in on CLOV shares. Canaccord Genuity Group raised their price objective on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. Wall Street Zen downgraded Clover Health Investments from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Finally, UBS Group boosted their price objective on Clover Health Investments from $4.75 to $5.00 and gave the company a "neutral" rating in a report on Thursday, August 6th.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV opened at $4.15 on Monday. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $5.59. The business has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $3.31. The firm has a market cap of $2.20 billion, a PE ratio of -82.98 and a beta of 2.48.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $743.17 million during the quarter, compared to analysts' expectations of $728.27 million. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%.

Insiders Place Their Bets

In related news, VP Joseph Frank Oldakowski sold 12,102 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total transaction of $58,815.72. Following the transaction, the vice president directly owned 299,067 shares in the company, valued at $1,453,465.62. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, CEO Conrad Wai sold 220,426 shares of Clover Health Investments stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $3.99, for a total transaction of $879,499.74. Following the completion of the transaction, the chief executive officer directly owned 1,390,056 shares of the company's stock, valued at approximately $5,546,323.44. This represents a 13.69% decrease in their position. 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. Insiders have sold a total of 638,483 shares of company stock valued at $3,035,848 in the last quarter. Insiders own 23.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Abel Hall LLC bought a new stake in shares of Clover Health Investments during the 4th quarter valued at about $27,000. Allworth Financial LP lifted its holdings in Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company's stock worth $29,000 after acquiring an additional 6,527 shares during the last quarter. Quadrature Capital Ltd bought a new position in Clover Health Investments in the fourth quarter worth about $29,000. Schonfeld Strategic Advisors LLC acquired a new position in Clover Health Investments in the fourth quarter valued at approximately $29,000. Finally, Envestnet Asset Management Inc. acquired a new position in Clover Health Investments in the second quarter valued at approximately $31,000. 19.77% of the stock is currently owned by institutional investors.

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.

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