Clover Health Investments (NASDAQ:CLOV) Announces Quarterly Earnings Results

Key Points

• Clover Health Investments reported a quarterly loss of ($0.02) earnings per share, falling short of the consensus estimate of $0.03.
• The company's stock experienced a slight decline, trading at $2.85, with a market cap of $1.45 billion.
• Insider activity included CEO Conrad Wai selling 118,600 shares, representing a 7.35% decrease in his ownership position.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05), Zacks reports. Clover Health Investments had a negative net margin of 1.69% and a negative return on equity of 7.42%. Clover Health Investments updated its FY 2025 guidance to EPS.

Clover Health Investments Price Performance

Shares of CLOV traded down $0.03 during midday trading on Tuesday, hitting $2.85. 13,510,758 shares of the company traded hands, compared to its average volume of 7,174,222. The stock has a 50-day moving average of $2.96 and a 200-day moving average of $3.52. Clover Health Investments has a one year low of $1.64 and a one year high of $4.87. The firm has a market cap of $1.45 billion, a P/E ratio of -57.00 and a beta of 1.91.

Insider Buying and Selling

In other Clover Health Investments news, CEO Conrad Wai sold 118,600 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $3.29, for a total value of $390,194.00. Following the sale, the chief executive officer directly owned 1,494,898 shares in the company, valued at $4,918,214.42. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 24.07% of the company's stock.

Institutional Investors Weigh In On Clover Health Investments

Large investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new position in Clover Health Investments in the 2nd quarter worth about $31,000. Integrated Wealth Concepts LLC bought a new position in Clover Health Investments in the 1st quarter worth about $37,000. AQR Capital Management LLC bought a new position in Clover Health Investments in the 1st quarter worth about $49,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Clover Health Investments by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 855,264 shares of the company's stock worth $3,070,000 after acquiring an additional 24,807 shares during the last quarter. Institutional investors own 19.77% of the company's stock.

About Clover Health Investments

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.