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

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have been assigned a consensus recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $3.8167.

Several research firms have commented on CLOV. Canaccord Genuity Group boosted their target price on Clover Health Investments from $3.20 to $4.20 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. UBS Group boosted 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 report on Thursday, June 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th.

Clover Health Investments Price Performance

CLOV opened at $5.26 on Friday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -43.83 and a beta of 2.41. The business’s 50-day moving average price is $3.98 and its two-hundred day moving average price is $2.82. Clover Health Investments has a 1 year low of $1.58 and a 1 year high of $5.59.

Clover Health Investments (NASDAQ:CLOV) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.02). The firm had revenue of $749.19 million for the quarter, compared to analyst estimates 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, CEO Conrad Wai sold 220,426 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $879,499.74. Following the sale, the chief executive officer directly owned 1,390,056 shares of the company’s stock, valued at $5,546,323.44. The trade was a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Joseph Frank Oldakowski sold 12,102 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,453,465.62. This represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 ninety days, insiders sold 715,884 shares of company stock worth $3,202,372. 23.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLOV. Vanguard Group Inc. raised its stake in shares of Clover Health Investments by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock worth $55,192,000 after purchasing an additional 425,904 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Clover Health Investments by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company’s stock valued at $23,013,000 after buying an additional 70,801 shares in the last quarter. State Street Corp grew its stake in shares of Clover Health Investments by 4.1% in the fourth quarter. State Street Corp now owns 9,320,183 shares of the company’s stock valued at $21,902,000 after buying an additional 368,507 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Clover Health Investments by 9.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock worth $11,024,000 after buying an additional 419,389 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Clover Health Investments by 217.5% during the second quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after buying an additional 2,748,783 shares during the last quarter. 19.77% of the stock is currently owned by 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.