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

Clover Health Investments, Corp. (NASDAQ:CLOV) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.25.

A number of brokerages have recently commented on CLOV. UBS Group raised their price objective on shares of Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Canaccord Genuity Group boosted their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th.

Clover Health Investments Stock Performance

NASDAQ:CLOV opened at $4.23 on Thursday. The firm’s fifty day moving average is $4.55 and its two-hundred day moving average is $3.09. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -35.25 and a beta of 2.41. Clover Health Investments has a one year low of $1.58 and a one year high of $5.59.

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

Insider Activity

In other Clover Health Investments news, VP Joseph Frank Oldakowski sold 12,102 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $4.86, for a total transaction of $58,815.72. Following the transaction, the vice president owned 299,067 shares in the company, valued at approximately $1,453,465.62. This represents a 3.89% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Toy sold 313,476 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $5.32, for a total value of $1,667,692.32. Following the completion of the sale, the chief executive officer directly owned 9,609,825 shares in the company, valued at approximately $51,124,269. The trade was a 3.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 715,884 shares of company stock worth $3,202,372. 23.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLOV. Abel Hall LLC purchased a new position in Clover Health Investments during the fourth quarter valued at $27,000. Allworth Financial LP lifted its stake in Clover Health Investments by 218.9% in the 3rd 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 in the last quarter. Quadrature Capital Ltd acquired a new stake in Clover Health Investments in the 4th quarter worth about $29,000. Schonfeld Strategic Advisors LLC purchased a new stake in 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 second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

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.