Clover Health Investments Target of Unusually Large Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) was the target of some unusual options trading on Tuesday. Investors purchased 37,211 call options on the stock. This represents an increase of approximately 164% compared to the typical volume of 14,100 call options.

Insider Activity

In related news, CEO Conrad Wai sold 118,600 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $3.29, for a total value of $390,194.00. Following the sale, the chief executive officer owned 1,494,898 shares of the company's stock, valued at $4,918,214.42. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 24.07% of the company's stock.

Institutional Trading of Clover Health Investments

A number of institutional investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL raised its position in shares of Clover Health Investments by 94.3% during the 2nd quarter. Blair William & Co. IL now owns 51,500 shares of the company's stock worth $144,000 after purchasing an additional 25,000 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Clover Health Investments during the 2nd quarter worth $105,000. Janney Montgomery Scott LLC boosted its holdings in shares of Clover Health Investments by 21.7% during the second quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company's stock worth $69,000 after purchasing an additional 4,426 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Clover Health Investments in the second quarter valued at $28,000. Finally, Palacios Wealth Management LLC increased its stake in Clover Health Investments by 21.6% in the second quarter. Palacios Wealth Management LLC now owns 50,624 shares of the company's stock valued at $141,000 after purchasing an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 19.77% of the company's stock.

Clover Health Investments Trading Down 1.8%

Shares of CLOV stock traded down $0.06 on Friday, reaching $3.03. 4,132,070 shares of the stock were exchanged, compared to its average volume of 7,151,255. Clover Health Investments has a twelve month low of $1.50 and a twelve month high of $4.87. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -60.50 and a beta of 1.86. The business's 50 day moving average price is $3.03 and its 200 day moving average price is $3.57.

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

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.