Traders Buy Large Volume of Put Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Friday. Investors bought 132,321 put options on the stock. This is an increase of approximately 240% compared to the average volume of 38,885 put options.

Analysts Set New Price Targets

CLOV has been the topic of a number of research reports. Zacks Research cut shares of Clover Health Investments from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. Leerink Partners set a $3.00 target price on shares of Clover Health Investments and gave the stock a “market perform” rating in a report on Tuesday, October 21st. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, December 29th. Finally, Canaccord Genuity Group cut their price objective on 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. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Clover Health Investments has an average rating of “Hold” and an average target price of $3.23.

Institutional Investors Weigh In On Clover Health Investments

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in Clover Health Investments by 104.9% in the 4th quarter. SG Americas Securities LLC now owns 59,046 shares of the company’s stock valued at $139,000 after buying an additional 30,223 shares during the last quarter. Allworth Financial LP boosted its position in shares of Clover Health Investments by 218.9% in the third quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after acquiring an additional 6,527 shares during the period. Swiss Life Asset Management Ltd boosted its position in shares of Clover Health Investments by 53.5% in the third quarter. Swiss Life Asset Management Ltd now owns 17,002 shares of the company’s stock valued at $52,000 after acquiring an additional 5,926 shares during the period. Cambria Investment Management L.P. grew its stake in shares of Clover Health Investments by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 144,386 shares of the company’s stock worth $442,000 after acquiring an additional 28,872 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Clover Health Investments during the third quarter worth $132,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

CLOV traded down $0.08 on Friday, reaching $2.54. 9,105,896 shares of the company traded hands, compared to its average volume of 6,091,446. 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 200-day moving average price is $2.77. Clover Health Investments has a 52-week low of $2.12 and a 52-week high of $4.87.

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 for the quarter, compared to analyst estimates of $467.18 million. Clover Health Investments had a negative net margin of 3.29% and a negative return on equity of 16.79%. As a group, equities research analysts forecast that Clover Health Investments will post -0.12 earnings per share for the current fiscal year.

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.