Key Points
- Director Carladenise Armbrister Edwards sold 67,160 shares of Clover Health Investments on May 18 at an average price of $3.42, for proceeds of about $229,687. The sale reduced her ownership by 19.05%.
- CLOV stock was trading up 3.2% and opened at $3.50, near its 52-week high of $3.92. The company has a market cap of $1.84 billion and remains volatile with a beta of 2.44.
- Recent earnings were mixed: Clover reported $0.05 EPS, below the $0.07 consensus, but revenue of $749.19 million beat estimates. Analysts currently hold a consensus “Hold” rating with an average target price of $2.90.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) 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 transaction of $229,687.20. Following the sale, the director owned 285,432 shares of the company's stock, valued at approximately $976,177.44. The trade was a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Clover Health Investments Trading Up 3.2%
Shares of NASDAQ CLOV opened at $3.50 on Wednesday. Clover Health Investments, Corp. has a 12 month low of $1.58 and a 12 month high of $3.92. The company has a 50 day simple moving average of $2.30 and a two-hundred day simple moving average of $2.39. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -29.16 and a beta of 2.44.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.02). Clover Health Investments had a negative net margin of 2.58% and a negative return on equity of 16.52%. The business had revenue of $749.19 million for the quarter, compared to analyst estimates of $714.89 million. Analysts forecast that Clover Health Investments, Corp. will post -0.02 EPS for the current year.
Analyst Ratings Changes
CLOV has been the subject of several research reports. Canaccord Genuity Group decreased their price objective on shares of 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. Wall Street Zen upgraded shares of Clover Health Investments from a "sell" rating to a "hold" rating in a research note on Sunday, February 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clover Health Investments in a research note on Friday, March 27th. Finally, Leerink Partners decreased their target price on shares of 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. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.90.
Check Out Our Latest Analysis on CLOV
Hedge Funds Weigh In On Clover Health Investments
Several large investors have recently made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in shares of Clover Health Investments by 1.2% in the 3rd quarter. Alliancebernstein L.P. now owns 415,985 shares of the company's stock valued at $1,273,000 after purchasing an additional 5,085 shares during the period. ProShare Advisors LLC lifted its stake in shares of Clover Health Investments by 8.2% in the 4th quarter. ProShare Advisors LLC now owns 74,700 shares of the company's stock valued at $176,000 after purchasing an additional 5,660 shares during the period. Swiss Life Asset Management Ltd lifted 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 purchasing an additional 5,926 shares during the period. Allworth Financial LP lifted its stake in shares of Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company's stock valued at $29,000 after purchasing an additional 6,527 shares during the period. Finally, Verition Fund Management LLC increased its holdings in Clover Health Investments by 11.3% in the 4th quarter. Verition Fund Management LLC now owns 65,777 shares of the company's stock worth $155,000 after acquiring an additional 6,677 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.
About Clover Health Investments
(
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.
Further Reading
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