Investors Purchase High Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Key Points

• On Thursday, Clover Health Investments saw a significant increase in call options trading, with 42,709 call options purchased, marking a 122% rise over the average volume.
• The company's stock price increased by $0.08 to $3.10, with a market capitalization of $1.59 billion and a PE ratio of -38.69.
• Insider trading activity includes Director Anna U. Loengard acquiring 26,500 shares, increasing her ownership by 852.09%, while CEO Conrad Wai sold 118,600 shares, decreasing his ownership by 7.35%.

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) saw some unusual options trading on Thursday. Traders bought 42,709 call options on the company. This represents an increase of approximately 122% compared to the average volume of 19,225 call options.

Clover Health Investments Stock Performance

Shares of NASDAQ:CLOV traded up $0.08 during trading on Thursday, hitting $3.10. The company's stock had a trading volume of 1,928,395 shares, compared to its average volume of 7,126,154. Clover Health Investments has a fifty-two week low of $2.12 and a fifty-two week high of $4.87. The business has a 50 day moving average price of $2.78 and a two-hundred day moving average price of $3.19. The company has a market capitalization of $1.59 billion, a PE ratio of -38.69 and a beta of 1.96.

Analyst Ratings Changes

Several analysts recently weighed in on CLOV shares. UBS Group dropped their target price on shares of Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Canaccord Genuity Group dropped their price objective on Clover Health Investments from $4.50 to $4.10 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $4.37.

Insider Buying and Selling at Clover Health Investments

In related news, Director Anna U. Loengard acquired 26,500 shares of Clover Health Investments stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $68,635.00. Following the acquisition, the director owned 29,610 shares in the company, valued at approximately $76,689.90. This represents a 852.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Conrad Wai sold 118,600 shares of Clover Health Investments stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $3.29, for a total transaction of $390,194.00. Following the sale, the chief executive officer owned 1,494,898 shares of the company's stock, valued at approximately $4,918,214.42. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.07% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Graham Capital Management L.P. acquired a new stake in Clover Health Investments in the 4th quarter valued at about $889,000. Millennium Management LLC grew its position in shares of Clover Health Investments by 5,071.2% during the fourth quarter. Millennium Management LLC now owns 1,245,701 shares of the company's stock worth $3,924,000 after buying an additional 1,221,612 shares in the last quarter. GMT Capital Corp acquired a new stake in Clover Health Investments in the first quarter valued at approximately $4,686,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Clover Health Investments by 90.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company's stock valued at $2,616,000 after acquiring an additional 394,881 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in Clover Health Investments in the first quarter worth approximately $36,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.

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