Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Rating of “Hold” by Brokerages

Clover Health Investments, Corp. (NASDAQ:CLOV) has received an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $2.90.

CLOV has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Canaccord Genuity Group lowered their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. Leerink Partners dropped 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 note on Thursday, March 5th. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a report on Sunday, February 15th.

Clover Health Investments Stock Down 1.4%

NASDAQ CLOV opened at $3.55 on Friday. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $3.92. The stock has a market cap of $1.87 billion, a P/E ratio of -29.58 and a beta of 2.44. The company’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $2.40.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The business had revenue of $749.19 million for the quarter, compared to the consensus estimate of $714.89 million. Research analysts anticipate that Clover Health Investments will post -0.02 earnings per share for the current year.

Insider Activity

In other news, Director Carladenise Armbrister Edwards sold 67,160 shares of Clover Health Investments stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the completion of the transaction, the director owned 285,432 shares in the company, valued at approximately $976,177.44. The trade was a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brady Patrick Priest sold 175,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $2.17, for a total value of $379,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,998,584 shares in the company, valued at $4,336,927.28. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 340,199 shares of company stock valued at $954,534 over the last three months. 23.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Divisadero Street Capital Management LP bought a new position in Clover Health Investments in the 3rd quarter worth approximately $8,470,000. Principal Financial Group Inc. boosted its position in Clover Health Investments by 1,590.3% in the 3rd quarter. Principal Financial Group Inc. now owns 485,433 shares of the company’s stock valued at $1,485,000 after buying an additional 456,715 shares during the last quarter. Vanguard Group Inc. increased its stake 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 valued at $55,192,000 after buying an additional 425,904 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Clover Health Investments by 53.5% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock valued at $52,000 after buying an additional 5,926 shares during the period. Finally, Cambria Investment Management L.P. raised its position in shares of Clover Health Investments by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 144,386 shares of the company’s stock worth $442,000 after acquiring an additional 28,872 shares during the last quarter. 19.77% of the stock is owned by institutional investors.

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.