Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Consensus "Hold": Five analysts rate Clover Health a Hold (1 sell, 3 hold, 1 buy) with an average 1‑year price target of $2.90 and several recent target cuts from firms like Canaccord and Leerink.
• Mixed quarterly results: Clover reported EPS of ($0.10) vs. ($0.05) expected (a miss) while beating revenue estimates ($487.7M), and still shows a negative net margin and return on equity with analysts forecasting ~-0.02 EPS for the year.
• Insider and institutional ownership: CEO Brady Priest sold 175,000 shares at ~$2.17 (an 8.05% reduction in his position); corporate insiders own 24.07% of the stock while hedge funds/institutions hold about 19.77%.

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $2.90.

CLOV has been the subject of a number of analyst reports. Canaccord Genuity Group dropped their price target on 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. Leerink Partners dropped 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. Wall Street Zen upgraded Clover Health Investments from a "sell" rating to a "hold" rating in a report on Sunday, February 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Clover Health Investments in a report on Friday, March 27th.

Clover Health Investments Price Performance

CLOV stock opened at $2.23 on Tuesday. The business has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.40. The firm has a market capitalization of $1.17 billion, a PE ratio of -13.12 and a beta of 2.24. Clover Health Investments has a 1 year low of $1.58 and a 1 year high of $3.92.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The company had revenue of $487.71 million during the quarter, compared to analysts' expectations of $467.06 million. Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. On average, equities research analysts expect that Clover Health Investments will post -0.02 EPS for the current year.

Insider Buying and Selling at Clover Health Investments

In other news, CEO Brady Patrick Priest sold 175,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,998,584 shares in the company, valued at approximately $4,336,927.28. This represents a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 24.07% of the company's stock.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently modified their holdings of the business. Abel Hall LLC purchased a new position in shares of Clover Health Investments during the 4th quarter worth $27,000. Allworth Financial LP grew its holdings in shares of Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company's stock worth $29,000 after purchasing an additional 6,527 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Clover Health Investments during the 4th quarter worth $29,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Clover Health Investments during the 4th quarter worth $29,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Clover Health Investments during the 2nd quarter worth $31,000. 19.77% of the stock is currently owned by hedge funds and other 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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