Stock Traders Buy High Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Key Points

• Unusual options activity: investors bought 37,742 call options on CLOV on Monday, a 42% increase over the typical daily call volume of 26,552.
• Insider move: CEO Brady Patrick Priest sold 175,000 shares at an average of $2.17 on March 4, trimming his stake by 8.05%; corporate insiders own 24.07% of the stock while institutional investors hold 19.77%.
• Company outlook and analyst view: CLOV reported Q4 EPS of ($0.10), missing estimates, its shares traded at $1.90 midday, and analysts have a consensus "Hold" rating with a $2.90 price target.

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 37,742 call options on the stock. This represents an increase of 42% compared to the typical daily volume of 26,552 call options.

Insiders Place Their Bets

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,998,584 shares of the company's stock, valued at $4,336,927.28. The trade was a 8.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 24.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Clover Health Investments by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company's stock worth $55,192,000 after purchasing an additional 425,904 shares in the last quarter. Geode Capital Management LLC grew its position in Clover Health Investments by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company's stock worth $23,013,000 after buying an additional 70,801 shares during the last quarter. State Street Corp grew its position in Clover Health Investments by 4.1% in the fourth quarter. State Street Corp now owns 9,320,183 shares of the company's stock worth $21,902,000 after buying an additional 368,507 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Clover Health Investments by 9.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company's stock valued at $11,024,000 after acquiring an additional 419,389 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company's stock valued at $11,196,000 after acquiring an additional 2,748,783 shares during the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

Clover Health Investments Price Performance

Shares of NASDAQ CLOV traded up $0.18 during mid-day trading on Monday, reaching $1.90. 4,806,024 shares of the company traded hands, compared to its average volume of 5,933,824. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $3.92. The firm has a market cap of $994.25 million, a PE ratio of -11.15 and a beta of 2.24. The stock has a fifty day simple moving average of $2.01 and a 200-day simple moving average of $2.48.

Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. The firm had revenue of $487.71 million for the quarter, compared to the consensus estimate of $467.06 million. As a group, analysts predict that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CLOV. Leerink Partners reduced their price objective on Clover Health Investments from $3.00 to $2.50 and set a "market perform" rating for the company in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clover Health Investments in a research note on Friday, March 27th. Wall Street Zen upgraded Clover Health Investments from a "sell" rating to a "hold" rating in a research report on Sunday, February 15th. Finally, Canaccord Genuity Group decreased their price target on Clover Health Investments from $3.70 to $3.20 and set a "buy" rating for the company in a research note on Friday, March 20th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Clover Health Investments has an average rating of "Hold" and a consensus price target of $2.90.

Clover Health Investments Company Profile

Clover Health Investments is a technology-driven healthcare company specializing in Medicare Advantage plans for senior populations. The company combines insurance coverage with a proprietary software platform to improve care coordination, outcomes tracking and cost management. By leveraging data analytics, Clover Health aims to deliver personalized care pathways and preventive interventions for its members.

At the core of Clover's offering is its Clover Assistant platform, which aggregates clinical and claims data from multiple sources to create real-time insights for physicians and care teams.

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