Clover Health Investments, Corp. (NASDAQ:CLOV) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.10.

Several research analysts have recently weighed in on CLOV shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Clover Health Investments in a report on Monday, September 21st. Zacks Research upgraded shares of Clover Health Investments to a “hold” rating in a report on Monday, September 14th. Needham & Company LLC restated a “buy” rating on shares of Clover Health Investments in a report on Thursday, November 5th. Canaccord Genuity Group lifted their target price on shares of Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, UBS Group increased their price target on Clover Health Investments from $5.00 to $5.50 and gave the company a “neutral” rating in a report on Thursday, November 5th.

Insider Transactions at Clover Health Investments

In related news, CEO Andrew Toy sold 318,806 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $4.19, for a total value of $1,335,797.14. Following the transaction, the chief executive officer owned 9,140,510 shares of the company’s stock, valued at approximately $38,298,736.90. This trade represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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, insider Karen Soares sold 19,275 shares of Clover Health Investments stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $4.66, for a total transaction of $89,821.50. Following the transaction, the insider owned 1,573,423 shares in the company, valued at $7,332,151.18. This represents a 1.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 768,573 shares of company stock worth $3,462,479 in the last ninety days. Insiders own 23.51% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLOV. Voya Investment Management LLC boosted its position in shares of Clover Health Investments by 4.8% in the third quarter. Voya Investment Management LLC now owns 84,149 shares of the company’s stock worth $363,000 after purchasing an additional 3,834 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Clover Health Investments by 223.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,855 shares of the company’s stock worth $47,000 after purchasing an additional 7,498 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Clover Health Investments in the 2nd quarter worth approximately $42,000. Allworth Financial LP lifted its holdings in Clover Health Investments by 200.7% in the 3rd quarter. Allworth Financial LP now owns 12,281 shares of the company’s stock worth $53,000 after purchasing an additional 8,197 shares in the last quarter. Finally, Nykredit A S bought a new position in Clover Health Investments in the 2nd quarter worth approximately $45,000. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Price Performance

CLOV stock opened at $4.97 on Friday. Clover Health Investments has a 1-year low of $1.58 and a 1-year high of $5.59. The business has a fifty day moving average price of $4.58 and a 200-day moving average price of $3.62. The stock has a market capitalization of $2.64 billion, a P/E ratio of 497.50 and a beta of 2.52.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. Clover Health Investments had a return on equity of 4.66% and a net margin of 0.45%. The company had revenue of $759.30 million for the quarter, compared to analysts’ expectations of $740.07 million. As a group, analysts anticipate that Clover Health Investments will post 0.06 earnings per share for the current year.

About Clover Health Investments

Clover Health Investments is a U.S. healthcare company focused on Medicare. Its insurance business offers Medicare Advantage plans to eligible beneficiaries in select markets, combining medical coverage with support intended to help members access care. The company also developed the Clover Assistant, a technology platform that organizes patient information and provides clinicians with insights to support care decisions. Clover has described the platform as a way to help primary care providers identify health needs and coordinate care for people with complex conditions.