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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading activity on Friday. Traders purchased 132,321 put options on the stock. This represents an increase of 240% compared to the average volume of 38,885 put options.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Clover Health Investments by 95.7% in the 2nd quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock valued at $27,467,000 after buying an additional 4,812,368 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Clover Health Investments during the third quarter valued at $8,470,000. Bank of America Corp DE boosted its holdings in Clover Health Investments by 217.5% in the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after acquiring an additional 2,748,783 shares during the last quarter. First Trust Advisors LP bought a new position in Clover Health Investments in the second quarter valued at about $4,149,000. Finally, Dimensional Fund Advisors LP increased its position in Clover Health Investments by 199.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,140,282 shares of the company’s stock worth $6,551,000 after purchasing an additional 1,425,391 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canaccord Genuity Group cut their price objective on shares of Clover Health Investments from $4.10 to $3.70 and set a “buy” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Wall Street Zen upgraded Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Zacks Research lowered Clover Health Investments from a “strong-buy” rating to a “hold” rating in a report on Monday, November 24th. Finally, Leerink Partners set a $3.00 price objective on Clover Health Investments and gave the company a “market perform” rating in a research report on Tuesday, October 21st. 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 company’s stock. According to data from MarketBeat.com, Clover Health Investments currently has a consensus rating of “Hold” and an average target price of $3.23.

Clover Health Investments Stock Performance

NASDAQ CLOV traded down $0.08 during trading on Friday, reaching $2.54. 9,105,896 shares of the company traded hands, compared to its average volume of 6,091,446. Clover Health Investments has a 1-year low of $2.12 and a 1-year high of $4.87. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -23.09 and a beta of 2.12. The stock’s 50 day moving average price is $2.52 and its two-hundred day moving average price is $2.77.

Clover Health Investments (NASDAQ:CLOV) last issued its earnings results on Tuesday, November 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.07). The company had revenue of $496.65 million during the quarter, compared to analyst estimates of $467.18 million. Clover Health Investments had a negative return on equity of 16.79% and a negative net margin of 3.29%. Equities research analysts expect that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Clover Health Investments Company Profile

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.