Investors Buy High Volume of Clover Health Investments Put Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Monday. Stock investors purchased 22,313 put options on the stock. This is an increase of 36% compared to the average volume of 16,415 put options.

Clover Health Investments Trading Down 3.4%

Shares of CLOV opened at $4.31 on Tuesday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -86.18 and a beta of 2.45. The firm has a fifty day moving average price of $4.51 and a 200-day moving average price of $3.55. Clover Health Investments has a 12-month low of $1.58 and a 12-month high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.20%. The firm had revenue of $743.17 million during the quarter, compared to the consensus estimate of $728.27 million. Analysts predict that Clover Health Investments will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Monday, September 21st. UBS Group increased their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Needham & Company LLC started coverage on shares of Clover Health Investments in a research note on Wednesday, October 28th. They issued a “buy” rating and a $6.00 price objective for the company. Wall Street Zen downgraded shares of Clover Health Investments from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Clover Health Investments in a research report on Thursday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Insider Transactions at Clover Health Investments

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $5.16, for a total transaction of $103,200.00. Following the completion of the transaction, the vice president owned 279,067 shares in the company, valued at $1,439,985.72. This trade represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Conrad Wai sold 23,627 shares of Clover Health Investments stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $4.68, for a total value of $110,574.36. Following the completion of the sale, the chief executive officer directly owned 1,042,072 shares in the company, valued at approximately $4,876,896.96. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 856,371 shares of company stock valued at $3,870,740 over the last three months. Corporate insiders own 23.51% of the company’s stock.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in CLOV. Public Employees Retirement System of Ohio purchased a new stake in shares of Clover Health Investments during the second quarter valued at $42,000. Kestra Private Wealth Services LLC boosted its position in Clover Health Investments by 44.1% during the first quarter. Kestra Private Wealth Services LLC now owns 24,525 shares of the company’s stock worth $43,000 after purchasing an additional 7,500 shares in the last quarter. Ballew Advisors Inc acquired a new position in Clover Health Investments during the third quarter worth $44,000. Y Intercept Hong Kong Ltd acquired a new stake in Clover Health Investments in the 1st quarter worth about $45,000. Finally, Nykredit A S acquired a new position in shares of Clover Health Investments during the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Company Profile

Clover Health Investments, Corp. is a health insurance technology company focused on providing Medicare Advantage plans to eligible seniors in the United States. Its plans combine hospital, medical and prescription drug coverage with additional benefits that may vary by plan and location.

The company uses its Clover Assistant technology platform to provide physicians with data-driven insights intended to support clinical decision-making and care coordination. The platform aggregates member health information and helps participating providers identify care opportunities, manage chronic conditions and engage with patients.

Clover Health was founded in 2012 and became a publicly traded company in 2021 through a merger with a special purpose acquisition company.