Key Points
- Insider sale: CEO Brady Patrick Priest sold 175,000 shares at an average of $2.17 for $379,750, trimming his stake by 8.05% to 1,998,584 shares (about $4.34M).
- Earnings miss and weak profitability: Clover reported EPS of ($0.10), missing consensus by $0.05, and posted a negative net margin (−4.45%) and ROE (−25.17%) despite revenue of $487.7M that beat estimates.
- Market positioning: Shares traded at $2.03 with 50-/200-day averages of $2.30/$2.62 and a market cap near $1.05B; analysts' consensus is a Hold with an average price target of $3.07.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) CEO Brady Patrick Priest sold 175,000 shares of the firm's stock in a transaction dated 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 owned 1,998,584 shares in the company, valued at approximately $4,336,927.28. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Clover Health Investments Stock Performance
Shares of NASDAQ:CLOV traded down $0.04 during trading on Friday, reaching $2.03. 2,177,121 shares of the stock were exchanged, compared to its average volume of 6,003,720. The firm's 50-day moving average price is $2.30 and its 200 day moving average price is $2.62. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -11.94 and a beta of 2.15. Clover Health Investments, Corp. has a 12-month low of $1.93 and a 12-month high of $3.92.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate 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 business had revenue of $487.71 million during the quarter, compared to analysts' expectations of $467.06 million. As a group, equities research analysts forecast that Clover Health Investments, Corp. will post -0.12 EPS for the current year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on CLOV shares. Wall Street Zen upgraded Clover Health Investments from a "sell" rating to a "hold" rating in a report on Sunday, February 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clover Health Investments in a research report on Monday, December 29th. Canaccord Genuity Group reiterated a "buy" rating and issued a $3.70 target price on shares of Clover Health Investments in a research note on Tuesday, January 20th. Zacks Research downgraded Clover Health Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, November 24th. Finally, Leerink Partners decreased their price target on Clover Health Investments from $3.00 to $2.50 and set a "market perform" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $3.07.
Check Out Our Latest Report on Clover Health Investments
Institutional Trading of Clover Health Investments
Several large investors have recently modified their holdings of the business. Allworth Financial LP increased its position in shares of Clover Health Investments by 218.9% during the third quarter. Allworth Financial LP now owns 9,509 shares of the company's stock worth $29,000 after acquiring an additional 6,527 shares during the last quarter. Clarity Wealth Advisors LLC acquired a new stake in Clover Health Investments during the 2nd quarter valued at approximately $28,000. Integrated Wealth Concepts LLC purchased a new stake in Clover Health Investments during the 1st quarter worth approximately $37,000. Alteri Wealth LLC acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at approximately $30,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Clover Health Investments during the 2nd quarter valued at approximately $31,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.
Clover Health Investments Company Profile
(
Get Free Report)
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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