Conrad Wai Sells 91,197 Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) CEO Conrad Wai sold 91,197 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $3.32, for a total value of $302,774.04. Following the transaction, the chief executive officer owned 1,403,701 shares of the company's stock, valued at approximately $4,660,287.32. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Conrad Wai also recently made the following trade(s):

• On Tuesday, July 22nd, Conrad Wai sold 118,600 shares of Clover Health Investments stock. The shares were sold at an average price of $3.29, for a total transaction of $390,194.00.

Clover Health Investments Stock Down 9.7%

Shares of CLOV traded down $0.33 during midday trading on Thursday, hitting $3.08. The company had a trading volume of 14,300,854 shares, compared to its average volume of 7,173,064. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -61.60 and a beta of 1.86. The company's 50 day moving average price is $3.04 and its 200 day moving average price is $3.57. Clover Health Investments, Corp. has a 52 week low of $1.50 and a 52 week high of $4.87.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $462.33 million during the quarter, compared to the consensus estimate of $466.93 million. Equities analysts anticipate that Clover Health Investments, Corp. will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors have recently made changes to their positions in CLOV. Phoenix Financial Ltd. boosted its holdings in Clover Health Investments by 6.8% in the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company's stock worth $123,000 after purchasing an additional 2,500 shares during the period. Rhumbline Advisers lifted its holdings in Clover Health Investments by 80.5% in the first quarter. Rhumbline Advisers now owns 7,085 shares of the company's stock worth $25,000 after acquiring an additional 3,160 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Clover Health Investments by 21.7% in the second quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company's stock valued at $69,000 after acquiring an additional 4,426 shares during the period. ADAR1 Capital Management LLC grew its holdings in shares of Clover Health Investments by 21.5% during the first quarter. ADAR1 Capital Management LLC now owns 28,300 shares of the company's stock valued at $102,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Parallax Volatility Advisers L.P. raised its position in shares of Clover Health Investments by 47.7% during the 4th quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company's stock worth $63,000 after purchasing an additional 6,408 shares during the period. 19.77% of the stock is currently owned by institutional investors.

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.

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