Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors acquired 41,195 call options on the company. This is an increase of approximately 199% compared to the typical daily volume of 13,770 call options.
Hedge Funds Weigh In On Clover Health Investments
A number of hedge funds and other institutional investors have recently made changes to their positions in CLOV. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of 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 in the last quarter. Caxton Associates LLP bought a new position in Clover Health Investments during the 1st quarter worth approximately $1,599,000. CTC Alternative Strategies Ltd. bought a new stake in Clover Health Investments in the first quarter valued at $113,000. Millennium Management LLC boosted its position in shares of Clover Health Investments by 365.9% during the first quarter. Millennium Management LLC now owns 5,804,006 shares of the company's stock valued at $20,836,000 after purchasing an additional 4,558,305 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Clover Health Investments during the 1st quarter valued at approximately $37,000. 19.77% of the stock is owned by institutional investors and hedge funds.
Clover Health Investments Trading Down 3.8%
Shares of Clover Health Investments stock traded down $0.12 during trading on Thursday, reaching $3.05. The stock had a trading volume of 8,755,920 shares, compared to its average volume of 7,250,543. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of -61.00 and a beta of 1.86. The stock has a fifty day moving average price of $3.12 and a two-hundred day moving average price of $3.58. Clover Health Investments has a 52 week low of $1.34 and a 52 week high of $4.87.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.12. Clover Health Investments had a negative return on equity of 7.42% and a negative net margin of 1.69%. The company had revenue of $462.33 million during the quarter, compared to the consensus estimate of $466.93 million. On average, equities analysts forecast that Clover Health Investments will post -0.12 EPS for the current fiscal year.
About Clover Health Investments
(
Get Free Report)
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.
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