Carladenise Armbrister Edwards Sells 67,160 Shares of Clover Health Investments (NASDAQ:CLOV) Stock

Clover Health Investments, Corp. (NASDAQ:CLOV) Director Carladenise Armbrister Edwards sold 67,160 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $3.42, for a total transaction of $229,687.20. Following the transaction, the director owned 285,432 shares in the company, valued at $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 can be accessed through the SEC website.

Clover Health Investments Price Performance

NASDAQ:CLOV traded up $0.11 during trading hours on Tuesday, reaching $3.50. 7,219,924 shares of the company were exchanged, compared to its average volume of 6,197,448. The stock has a 50 day simple moving average of $2.27 and a 200 day simple moving average of $2.39. Clover Health Investments, Corp. has a 52-week low of $1.58 and a 52-week high of $3.92. The firm 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) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $749.19 million for the quarter, compared to analyst estimates of $714.89 million. On average, analysts predict that Clover Health Investments, Corp. will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the stock. Divisadero Street Capital Management LP purchased a new position in Clover Health Investments during the 3rd quarter valued at about $8,470,000. Bank of America Corp DE lifted its position 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 purchasing an additional 2,748,783 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Clover Health Investments by 69.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock valued at $8,542,000 after buying an additional 1,494,043 shares during the period. First Trust Advisors LP purchased a new position in shares of Clover Health Investments during the second quarter valued at approximately $4,149,000. Finally, UBS Group AG grew its stake in Clover Health Investments by 155.5% in the third quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after purchasing an additional 1,388,761 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CLOV. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Canaccord Genuity Group cut their price target on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating on the stock in a research report on Friday, March 20th. Leerink Partners lowered their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Thursday, March 5th. Finally, Wall Street Zen raised shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.90.

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.