Key Points
- CEO Conrad Wai sold 300,000 Clover Health shares at an average price of $4.72, worth approximately $1.42 million. The Rule 10b5-1 transaction reduced his ownership by 20.41% to 1,170,056 shares.
- CLOV opened at $4.56, with a market capitalization of about $2.42 billion and a 52-week range of $1.58 to $5.59. The company recently reported quarterly revenue of $743.17 million and EPS of $0.05, exceeding analyst estimates.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $4.75. Institutional investors and hedge funds own approximately 19.77% of the company.
Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) CEO Conrad Wai sold 300,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $4.72, for a total value of $1,416,000.00. Following the completion of the sale, the chief executive officer owned 1,170,056 shares in the company, valued at $5,522,664.32. The trade was a 20.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Clover Health Investments Stock Performance
NASDAQ:CLOV opened at $4.56 on Thursday. Clover Health Investments, Corp. has a fifty-two week low of $1.58 and a fifty-two week high of $5.59. The company has a 50 day simple moving average of $4.42 and a two-hundred day simple moving average of $3.60. The company has a market capitalization of $2.42 billion, a PE ratio of -91.18 and a beta of 2.47.
Clover Health Investments (NASDAQ:CLOV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $728.27 million. Research analysts predict that Clover Health Investments, Corp. will post 0.06 EPS for the current year.
Institutional Trading of Clover Health Investments
Large investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new position in shares of Clover Health Investments during the 2nd quarter valued at $2,156,000. WINTON GROUP Ltd acquired a new stake in Clover Health Investments in the second quarter worth $913,000. Nykredit A S acquired a new stake in Clover Health Investments in the second quarter worth $45,000. AXQ Capital LP grew its holdings in Clover Health Investments by 602.6% in the second quarter. AXQ Capital LP now owns 146,569 shares of the company's stock worth $768,000 after purchasing an additional 125,708 shares during the period. Finally, Headlands Technologies LLC increased its stake in Clover Health Investments by 20.0% in the second quarter. Headlands Technologies LLC now owns 72,378 shares of the company's stock valued at $379,000 after purchasing an additional 12,065 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on CLOV shares. Zacks Research upgraded shares of Clover Health Investments to a "hold" rating in a report on Monday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Wall Street Zen lowered Clover Health Investments from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. UBS Group boosted their price objective on Clover Health Investments from $4.75 to $5.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. Finally, Canaccord Genuity Group upped their target price on Clover Health Investments from $4.20 to $5.50 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $4.75.
Read Our Latest Analysis on CLOV
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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