Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $3.8167.

CLOV has been the subject of a number of research analyst reports. Leerink Partners dropped their price target on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. UBS Group raised their price target on Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Canaccord Genuity Group lifted their price objective on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $4.73 on Wednesday. Clover Health Investments has a fifty-two week low of $1.58 and a fifty-two week high of $5.18. The stock has a market cap of $2.49 billion, a P/E ratio of -39.41 and a beta of 2.54. The business has a fifty day simple moving average of $3.05 and a 200-day simple moving average of $2.55.

Clover Health Investments (NASDAQ:CLOV) last announced 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 during the quarter, compared to analysts’ expectations of $714.89 million.

Insider Buying and Selling

In related news, CEO Conrad Wai sold 220,426 shares of Clover Health Investments stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $3.99, for a total transaction of $879,499.74. Following the completion of the sale, the chief executive officer owned 1,390,056 shares in the company, valued at approximately $5,546,323.44. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Patrick Priest sold 98,039 shares of Clover Health Investments stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the sale, the chief executive officer owned 2,040,222 shares of the company’s stock, valued at approximately $7,181,581.44. This represents a 4.58% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 385,625 shares of company stock worth $1,454,284. 23.51% of the stock is owned by corporate insiders.

Institutional Trading of Clover Health Investments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLOV. Abel Hall LLC purchased a new stake in Clover Health Investments during the 4th quarter worth about $27,000. Allworth Financial LP increased its position in Clover Health Investments by 218.9% during the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock worth $29,000 after purchasing an additional 6,527 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Clover Health Investments in the 4th quarter valued at about $29,000. Schonfeld Strategic Advisors LLC purchased a new stake in Clover Health Investments in the 4th quarter valued at about $29,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Clover Health Investments in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

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.