Clover Health Investments (NASDAQ:CLOV) Shares Down 9.8% on Insider Selling

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) were down 9.8% during trading on Thursday following insider selling activity. The stock traded as low as $3.10 and last traded at $3.08. Approximately 6,950,739 shares changed hands during trading, a decline of 2% from the average daily volume of 7,112,802 shares. The stock had previously closed at $3.41.

Specifically, CEO Conrad Wai sold 91,197 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total value 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 filing with the SEC, which is available through the SEC website. Also, CEO Conrad Wai sold 118,600 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total value of $390,194.00. Following the transaction, the chief executive officer owned 1,494,898 shares of the company's stock, valued at approximately $4,918,214.42. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Clover Health Investments Trading Down 1.3%

The business has a fifty day moving average price of $3.02 and a 200-day moving average price of $3.56. The stock has a market capitalization of $1.55 billion, a PE ratio of -60.80 and a beta of 1.86.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.12. The company had revenue of $462.33 million during the quarter, compared to analysts' expectations of $466.93 million. Clover Health Investments had a negative return on equity of 7.42% and a negative net margin of 1.69%. On average, equities analysts anticipate that Clover Health Investments, Corp. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in Clover Health Investments by 80.5% during the 1st quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock valued at $25,000 after buying an additional 3,160 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Clover Health Investments during the 2nd quarter valued at $28,000. Perigon Wealth Management LLC purchased a new stake in Clover Health Investments during the 1st quarter valued at $36,000. Integrated Wealth Concepts LLC purchased a new stake in Clover Health Investments during the 1st quarter valued at $37,000. Finally, Triumph Capital Management purchased a new position in shares of Clover Health Investments in the 4th quarter worth $45,000. Institutional investors own 19.77% of the company's stock.

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.