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) released its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.05), Zacks reports. The business had revenue of $477.62 million during the quarter, compared to analyst estimates of $468.30 million. Clover Health Investments had a negative return on equity of 12.24% and a negative net margin of 2.68%. Clover Health Investments updated its FY 2025 guidance to EPS.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV traded down $0.03 during midday trading on Friday, reaching $2.18. 11,154,807 shares of the company traded hands, compared to its average volume of 9,968,770. Clover Health Investments has a 52 week low of $1.84 and a 52 week high of $4.87. The stock has a 50-day moving average price of $2.90 and a 200 day moving average price of $3.48. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -27.25 and a beta of 1.91.

Insider Buying and Selling at Clover Health Investments

In related news, CEO Conrad Wai sold 91,197 shares of Clover Health Investments stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $3.32, for a total transaction of $302,774.04. Following the sale, the chief executive officer directly owned 1,403,701 shares in the company, valued at $4,660,287.32. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 24.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. bought a new stake in Clover Health Investments in the second quarter worth about $31,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Clover Health Investments by 3.0% in the first 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 in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Clover Health Investments in the first quarter worth about $37,000. Finally, AQR Capital Management LLC bought a new stake in Clover Health Investments in the first quarter worth about $49,000. 19.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CLOV. Canaccord Genuity Group lowered their price target on shares of Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a research report on Thursday. UBS Group lowered their price target on shares of Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a research report on Wednesday.

Clover Health Investments Company Profile

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.