Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Wall Street analysts rate Clover Health “Hold” overall: Of six covering brokerages, three recommend holding, two recommend buying, and one recommends selling. The average 12-month price target is $4.75.
• Clover Health shares opened at $4.78, with a market capitalization of about $2.54 billion and a recent trading range of $1.58 to $5.59. The stock fell 0.2% in the reported session.
• The company’s latest quarterly results exceeded expectations, with EPS of $0.05 versus a $0.04 estimate and revenue of $743.17 million versus a $728.27 million forecast. Insiders have sold 736,620 shares worth approximately $3.31 million over the past three months, primarily through pre-arranged plans to cover tax obligations.

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) have been assigned a consensus rating of "Hold" from the six brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.75.

A number of analysts have issued reports on the company. Zacks Research raised Clover Health Investments to a "hold" rating in a research note on Monday, September 14th. Canaccord Genuity Group upped their price objective on Clover Health Investments from $4.20 to $5.50 and gave the stock a "buy" rating in a report on Tuesday, July 21st. UBS Group increased their target price on Clover Health Investments from $4.75 to $5.00 and gave the company a "neutral" rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Clover Health Investments from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Clover Health Investments in a report on Monday, September 21st.

Clover Health Investments Stock Down 0.2%

Shares of Clover Health Investments stock opened at $4.78 on Tuesday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -95.58 and a beta of 2.45. The business has a 50-day moving average price of $4.43 and a 200-day moving average price of $3.92. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $5.59.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative return on equity of 4.20% and a negative net margin of 0.74%. The firm had revenue of $743.17 million for the quarter, compared to analysts' expectations of $728.27 million. On average, equities analysts expect that Clover Health Investments will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Clover Health Investments

In other Clover Health Investments news, CEO Andrew Toy sold 318,806 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $4.19, for a total transaction of $1,335,797.14. Following the completion of the transaction, the chief executive officer owned 9,140,510 shares in the company, valued at $38,298,736.90. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Karen Soares sold 6,846 shares of Clover Health Investments stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $4.78, for a total transaction of $32,723.88. Following the completion of the transaction, the insider directly owned 1,607,371 shares of the company's stock, valued at $7,683,233.38. The trade was a 0.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 736,620 shares of company stock worth $3,310,691. Company insiders own 23.51% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. RFG Advisory LLC bought a new position in shares of Clover Health Investments during the 1st quarter valued at approximately $35,000. Ketron Financial purchased a new stake in Clover Health Investments during the 4th quarter valued at $39,000. Public Employees Retirement System of Ohio bought a new stake in Clover Health Investments in the second quarter worth $42,000. Kestra Private Wealth Services LLC lifted its position in Clover Health Investments by 44.1% in the first quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company's stock worth $43,000 after buying an additional 7,500 shares during the last quarter. Finally, Ballew Advisors Inc bought a new stake in Clover Health Investments in the third quarter worth $44,000. Institutional investors own 19.77% of the company's stock.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a healthcare technology and Medicare Advantage company headquartered in Franklin, Tennessee. Through its insurance subsidiary, Clover Health Insurance Company, the company offers Medicare Advantage plans to eligible beneficiaries in select counties across the United States. Its plans are designed to provide coverage for hospital, medical and supplemental healthcare services through a managed-care structure.

Clover's technology platform, Clover Assistant, is intended to support physicians by organizing patient information, identifying potential care needs and helping providers coordinate treatment.

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