Stock Traders Purchase Large Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of some unusual options trading on Monday. Stock traders purchased 33,262 call options on the company. This is an increase of approximately 68% compared to the average volume of 19,833 call options.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CLOV shares. Craig Hallum started coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group upped their price target on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a report on Monday, March 3rd.

Insider Activity

In related news, General Counsel Karen Soares sold 52,500 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total transaction of $199,500.00. Following the completion of the transaction, the general counsel now directly owns 1,299,663 shares of the company’s stock, valued at $4,938,719.40. This represents a 3.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of Clover Health Investments stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3.61, for a total value of $722,000.00. Following the completion of the sale, the director now directly owns 273,227 shares in the company, valued at $986,349.47. This represents a 42.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 327,500 shares of company stock valued at $1,197,500. Company insiders own 22.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLOV. Phoenix Financial Ltd. increased its position in Clover Health Investments by 6.8% during the fourth quarter. Phoenix Financial Ltd. now owns 39,000 shares of the company’s stock worth $123,000 after buying an additional 2,500 shares in the last quarter. Steph & Co. grew its holdings in shares of Clover Health Investments by 33.3% during the fourth quarter. Steph & Co. now owns 20,000 shares of the company’s stock worth $63,000 after buying an additional 5,000 shares in the last quarter. Parallax Volatility Advisers L.P. lifted its stake in shares of Clover Health Investments by 47.7% during the fourth quarter. Parallax Volatility Advisers L.P. now owns 19,855 shares of the company’s stock valued at $63,000 after buying an additional 6,408 shares during the period. Arizona State Retirement System boosted its position in Clover Health Investments by 6.3% during the fourth quarter. Arizona State Retirement System now owns 118,265 shares of the company’s stock worth $373,000 after acquiring an additional 6,990 shares during the last quarter. Finally, SignalPoint Asset Management LLC grew its stake in Clover Health Investments by 6.2% in the 4th quarter. SignalPoint Asset Management LLC now owns 160,074 shares of the company’s stock worth $504,000 after acquiring an additional 9,390 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Trading Up 1.6 %

NASDAQ:CLOV opened at $3.87 on Wednesday. The company has a market capitalization of $1.98 billion, a P/E ratio of -19.35 and a beta of 2.00. The firm has a 50-day moving average price of $4.13 and a two-hundred day moving average price of $3.68. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.87.

Clover Health Investments Company Profile

Clover Health Investments, Corp. provides medicare advantage plans in the United States. It operates through two segments: Insurance and Non-Insurance. It also offers Clover Assistant, a cloud-based software platform, that enables physicians to detect, identify, and manage chronic diseases earlier; and access to data-driven and personalized insights for the patients they treat.