Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Rating of “Hold” by Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.2333.

A number of equities research analysts have recently issued reports on CLOV shares. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday. Leerink Partners lowered their price target 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. Canaccord Genuity Group increased their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th.

Clover Health Investments Trading Up 9.4%

Shares of Clover Health Investments stock opened at $4.29 on Wednesday. Clover Health Investments has a 12-month low of $1.58 and a 12-month high of $4.44. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -35.75 and a beta of 2.54. The company’s 50-day moving average price is $2.86 and its 200-day moving average price is $2.50.

Clover Health Investments (NASDAQ:CLOV) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The firm had revenue of $749.19 million during the quarter, compared to analysts’ expectations of $714.89 million.

Insider Activity at Clover Health Investments

In related news, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $3.42, for a total value of $229,687.20. Following the sale, the director directly owned 285,432 shares of the company’s stock, valued at $976,177.44. This trade represents a 19.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brady Patrick Priest sold 98,039 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total transaction of $345,097.28. Following the completion of the sale, the chief executive officer directly owned 2,040,222 shares in the company, valued at $7,181,581.44. This represents a 4.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 385,625 shares of company stock valued at $1,454,284 over the last three months. 23.51% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alliancebernstein L.P. raised its stake in Clover Health Investments by 1.2% in the third quarter. Alliancebernstein L.P. now owns 415,985 shares of the company’s stock valued at $1,273,000 after purchasing an additional 5,085 shares in the last quarter. ProShare Advisors LLC raised its stake in Clover Health Investments by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 74,700 shares of the company’s stock valued at $176,000 after purchasing an additional 5,660 shares in the last quarter. Swiss Life Asset Management Ltd raised its stake in 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 purchasing an additional 5,926 shares in the last quarter. Allworth Financial LP raised its stake in 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 purchasing an additional 6,527 shares in the last quarter. Finally, Verition Fund Management LLC raised its stake in Clover Health Investments by 11.3% in the fourth quarter. Verition Fund Management LLC now owns 65,777 shares of the company’s stock valued at $155,000 after purchasing an additional 6,677 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.