Traders Purchase High Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Tuesday. Traders purchased 37,211 call options on the stock. This represents an increase of approximately 164% compared to the average volume of 14,100 call options.

Clover Health Investments Stock Performance

CLOV traded up $0.11 during trading on Tuesday, reaching $3.22. The stock had a trading volume of 7,499,125 shares, compared to its average volume of 7,327,739. The business has a 50-day moving average of $3.05 and a 200-day moving average of $3.57. Clover Health Investments has a one year low of $1.50 and a one year high of $4.87. The stock has a market cap of $1.64 billion, a PE ratio of -64.30 and a beta of 1.86.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.12. Clover Health Investments had a negative return on equity of 7.42% and a negative net margin of 1.69%. The company had revenue of $462.33 million for the quarter, compared to analysts’ expectations of $466.93 million. Equities research analysts forecast that Clover Health Investments will post -0.12 EPS for the current fiscal year.

Institutional Trading of Clover Health Investments

A number of hedge funds have recently made changes to their positions in CLOV. Vanguard Group Inc. raised its stake in Clover Health Investments by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 20,580,117 shares of the company’s stock valued at $73,883,000 after buying an additional 994,904 shares during the last quarter. Millennium Management LLC raised its stake in Clover Health Investments by 365.9% during the 1st quarter. Millennium Management LLC now owns 5,804,006 shares of the company’s stock valued at $20,836,000 after buying an additional 4,558,305 shares during the last quarter. Geode Capital Management LLC raised its stake in Clover Health Investments by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock valued at $15,387,000 after buying an additional 53,760 shares during the last quarter. Marshall Wace LLP grew its position in shares of Clover Health Investments by 167.6% during the 4th quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after acquiring an additional 2,360,902 shares during the period. Finally, GMT Capital Corp purchased a new position in Clover Health Investments during the first quarter valued at $4,686,000. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.