Clover Health Investments Sees Unusually High Options Volume (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders bought 41,195 call options on the company. This is an increase of 199% compared to the typical daily volume of 13,770 call options.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake 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 worth $20,836,000 after purchasing an additional 4,558,305 shares during the period. Marshall Wace LLP boosted its holdings in Clover Health Investments by 167.6% in the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company's stock worth $11,875,000 after buying an additional 2,360,902 shares during the period. GMT Capital Corp purchased a new position in Clover Health Investments during the first quarter valued at approximately $4,686,000. Vanguard Group Inc. grew its position in shares of Clover Health Investments by 5.1% in the first quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company's stock valued at $73,883,000 after purchasing an additional 994,904 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Clover Health Investments in the 4th quarter valued at approximately $2,769,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Clover Health Investments Price Performance

Shares of CLOV stock traded up $0.10 during midday trading on Wednesday, reaching $3.15. 9,072,095 shares of the company traded hands, compared to its average volume of 7,194,532. The firm's 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $3.58. Clover Health Investments has a 1-year low of $1.30 and a 1-year high of $4.87. The firm has a market cap of $1.60 billion, a PE ratio of -63.00 and a beta of 1.86.

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

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.