Key Points
- Insider sale: Clover Health VP Joseph Frank Oldakowski sold 20,000 shares at an average price of $5.16 for $103,200, reducing his position by 6.69% to 279,067 shares.
- Stock performance and earnings: CLOV shares were up 5.8%, with the stock opening at $5.10. The company recently exceeded quarterly expectations, reporting $0.05 in EPS versus a $0.04 estimate and $743.17 million in revenue.
- Analyst outlook remains mixed: Analysts’ consensus rating is “Hold,” with an average price target of $4.75, although recent ratings included buy recommendations and price targets as high as $6.00.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) VP Joseph Frank Oldakowski sold 20,000 shares of the business'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 sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Joseph Frank Oldakowski also recently made the following trade(s):
- On Tuesday, June 16th, Joseph Frank Oldakowski sold 12,102 shares of Clover Health Investments stock. The stock was sold at an average price of $4.86, for a total transaction of $58,815.72.
Clover Health Investments Stock Up 5.8%
Shares of NASDAQ CLOV opened at $5.10 on Tuesday. Clover Health Investments, Corp. has a twelve month low of $1.58 and a twelve month high of $5.59. The firm has a fifty day simple moving average of $4.43 and a 200 day simple moving average of $3.57. The company has a market capitalization of $2.71 billion, a PE ratio of -101.98 and a beta of 2.47.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) 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 business had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million.
Institutional Investors Weigh In On Clover Health Investments
Hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Clover Health Investments by 387.2% during the second quarter. California State Teachers Retirement System now owns 2,421,577 shares of the company's stock worth $12,689,000 after purchasing an additional 1,924,571 shares during the period. Bank of New York Mellon Corp bought a new stake in Clover Health Investments during the 2nd quarter valued at $6,346,000. Tidal Investments LLC acquired a new position in Clover Health Investments during the second quarter worth $2,156,000. WINTON GROUP Ltd acquired a new position in Clover Health Investments during the second quarter worth $913,000. Finally, AXQ Capital LP lifted its stake in shares of Clover Health Investments by 602.6% in the second quarter. AXQ Capital LP now owns 146,569 shares of the company's stock valued at $768,000 after buying an additional 125,708 shares in the last quarter. Institutional investors own 19.77% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Canaccord Genuity Group raised their target price on Clover Health Investments from $4.20 to $5.50 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Wall Street Zen lowered Clover Health Investments from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 16th. Weiss Ratings restated a "sell (d-)" rating on shares of Clover Health Investments in a report on Wednesday, June 24th. UBS Group raised their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the stock a "neutral" rating in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clover Health Investments in a research note on Thursday. They issued a "buy" rating and a $6.00 price objective for the company. Two analysts have 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 presently has an average rating of "Hold" and a consensus price target of $4.75.
View Our Latest Stock Analysis on Clover Health Investments
Clover Health Investments Company Profile
(
Get Free Report)
Clover Health Investments, Inc is a healthcare technology and insurance company focused on providing Medicare Advantage plans to eligible Medicare beneficiaries. Its insurance business offers medical coverage and related healthcare benefits through plans available in select counties across the United States.
The company also develops and uses Clover Assistant, a technology platform designed to support physicians with patient information, clinical insights, care recommendations and tools intended to help improve healthcare outcomes.
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