Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $3.23 Consensus PT from Analysts

Clover Health Investments, Corp. (NASDAQ:CLOV) has received a consensus rating of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $3.8167.

CLOV has been the subject of a number of research analyst reports. Canaccord Genuity Group upped their price target on shares of Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Friday, March 27th. UBS Group boosted their price objective on Clover Health Investments from $2.75 to $4.75 and gave the stock a “neutral” rating in a report on Thursday. Leerink Partners cut their price objective on 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. Finally, Wall Street Zen upgraded Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th.

Clover Health Investments Trading Down 3.5%

Shares of NASDAQ CLOV opened at $4.73 on Wednesday. Clover Health Investments has a twelve month low of $1.58 and a twelve month high of $5.18. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -39.41 and a beta of 2.54. The firm has a 50-day moving average of $3.05 and a two-hundred day moving average of $2.55.

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

Insiders Place Their Bets

In other Clover Health Investments news, Director Carladenise Armbrister Edwards sold 67,160 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $3.42, for a total transaction of $229,687.20. Following the sale, the director owned 285,432 shares in the company, valued at approximately $976,177.44. The trade was a 19.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brady Patrick Priest sold 98,039 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $3.52, for a total value of $345,097.28. Following the sale, the chief executive officer owned 2,040,222 shares in the company, valued at approximately $7,181,581.44. The trade was a 4.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 385,625 shares of company stock worth $1,454,284. Company insiders own 23.51% of the company’s stock.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently bought and sold shares of CLOV. Divisadero Street Capital Management LP acquired a new stake in Clover Health Investments during the 3rd quarter worth about $8,470,000. Bank of America Corp DE increased its holdings in shares of Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after purchasing an additional 2,748,783 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Clover Health Investments by 69.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock valued at $8,542,000 after purchasing an additional 1,494,043 shares during the period. First Trust Advisors LP acquired a new position in shares of Clover Health Investments in the 2nd quarter valued at about $4,149,000. Finally, UBS Group AG increased its holdings in shares of Clover Health Investments by 155.5% in the 3rd quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock valued at $6,983,000 after purchasing an additional 1,388,761 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

About Clover Health Investments

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.