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

Clover Health Investments, Corp. (NASDAQ:CLOV) saw unusually large options trading on Thursday. Stock investors bought 42,709 call options on the company. This represents an increase of 122% compared to the typical volume of 19,225 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group cut their price target on Clover Health Investments from $4.50 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 6th. Canaccord Genuity Group cut their price target on Clover Health Investments from $4.50 to $4.10 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.37.

Insider Buying and Selling

In other news, CEO Conrad Wai sold 118,600 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $3.29, for a total transaction of $390,194.00. Following the completion of the transaction, the chief executive officer directly owned 1,494,898 shares in the company, valued at $4,918,214.42. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anna U. Loengard purchased 26,500 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $2.59 per share, with a total value of $68,635.00. Following the completion of the acquisition, the director owned 29,610 shares of the company’s stock, valued at approximately $76,689.90. The trade was a 852.09% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

Several large investors have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in shares of Clover Health Investments by 80.5% in the first quarter. Rhumbline Advisers now owns 7,085 shares of the company’s stock worth $25,000 after acquiring an additional 3,160 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Clover Health Investments by 21.7% in the second quarter. Janney Montgomery Scott LLC now owns 24,860 shares of the company’s stock worth $69,000 after acquiring an additional 4,426 shares in the last quarter. ADAR1 Capital Management LLC increased its holdings in shares of Clover Health Investments by 21.5% in the first quarter. ADAR1 Capital Management LLC now owns 28,300 shares of the company’s stock worth $102,000 after acquiring an additional 5,000 shares in the last quarter. Palacios Wealth Management LLC increased its holdings in shares of Clover Health Investments by 21.6% in the second quarter. Palacios Wealth Management LLC now owns 50,624 shares of the company’s stock worth $141,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Clover Health Investments by 149.4% in the first quarter. Deutsche Bank AG now owns 16,307 shares of the company’s stock worth $59,000 after acquiring an additional 9,768 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Trading Up 4.0%

NASDAQ:CLOV opened at $3.14 on Friday. Clover Health Investments has a 1-year low of $2.12 and a 1-year high of $4.87. The business’s 50-day moving average price is $2.79 and its two-hundred day moving average price is $3.18. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -39.25 and a beta of 1.96.

About Clover Health Investments

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.