Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the target of unusually large options trading on Wednesday. Investors purchased 26,274 call options on the stock. Thisrepresentsanincreaseof53% compared to the average daily volume of 17,119 call options.
Clover Health Investments Price Performance
Clover Health Investments stock traded down $0.03 during trading hours on Friday, hitting $2.18. 11,154,807 shares of the stock were exchanged, compared to its average volume of 10,004,361. Clover Health Investments has a 12 month low of $1.84 and a 12 month high of $4.87. The business's 50-day moving average is $2.90 and its two-hundred day moving average is $3.48.
Analysts Set New Price Targets
Several brokerages recently commented on CLOV. UBS Group dropped their target price on shares of Clover Health Investments from $4.50 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their target price on shares of Clover Health Investments from $4.50 to $4.10 and set a "buy" rating on the stock in a report on Thursday.
Read Our Latest Analysis on Clover Health Investments
Insider Activity
In other Clover Health Investments news, CEO Conrad Wai sold 91,197 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $3.32, for a total transaction of $302,774.04. Following the transaction, the chief executive officer directly owned 1,403,701 shares in the company, valued at $4,660,287.32. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 24.07% of the company's stock.
Institutional Investors Weigh In On Clover Health Investments
A number of hedge funds have recently added to or reduced their stakes in CLOV. Graham Capital Management L.P. bought a new position in Clover Health Investments during the fourth quarter worth about $889,000. Marshall Wace LLP lifted its holdings in shares of Clover Health Investments by 167.6% during the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company's stock valued at $11,875,000 after purchasing an additional 2,360,902 shares in the last quarter. Barclays PLC lifted its holdings in shares of Clover Health Investments by 336.5% during the 4th quarter. Barclays PLC now owns 461,692 shares of the company's stock valued at $1,454,000 after purchasing an additional 355,926 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Clover Health Investments by 172.0% during the 4th quarter. JPMorgan Chase & Co. now owns 432,268 shares of the company's stock valued at $1,362,000 after purchasing an additional 273,348 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Clover Health Investments by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company's stock valued at $61,693,000 after purchasing an additional 386,499 shares in the last quarter. Institutional investors own 19.77% of the company's stock.
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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