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 value of $229,687.20. Following the transaction, the director directly owned 285,432 shares of the company’s stock, valued at $976,177.44. This represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Clover Health Investments Price Performance

CLOV stock opened at $3.59 on Thursday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -29.91 and a beta of 2.44. The business has a 50-day moving average of $2.33 and a 200-day moving average of $2.39. Clover Health Investments, Corp. has a fifty-two week low of $1.58 and a fifty-two week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $749.19 million for the quarter, compared to analyst estimates of $714.89 million. Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%. Equities analysts expect that Clover Health Investments, Corp. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on CLOV. Canaccord Genuity Group reduced their price target on Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a research report on Friday, March 20th. Leerink Partners reduced 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Finally, Wall Street Zen raised Clover Health Investments from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.90.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Abel Hall LLC acquired a new position in Clover Health Investments during the fourth quarter valued at approximately $27,000. Allworth Financial LP lifted 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 buying an additional 6,527 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Clover Health Investments during the 4th quarter worth approximately $29,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Clover Health Investments during the 4th quarter worth approximately $29,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Clover Health Investments during the 2nd quarter worth approximately $31,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.