Clover Health Investments Target of Unusually High Options Trading (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Monday. Traders acquired 33,262 call options on the stock. This represents an increase of approximately 68% compared to the typical volume of 19,833 call options.

Wall Street Analyst Weigh In

CLOV has been the topic of several analyst reports. Canaccord Genuity Group boosted their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price objective on the stock.

Clover Health Investments Trading Up 2.0 %

Shares of CLOV stock traded up $0.08 during trading hours on Monday, reaching $3.80. 2,800,102 shares of the company’s stock were exchanged, compared to its average volume of 6,848,892. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.87. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -18.97 and a beta of 2.00. The stock’s 50 day moving average is $4.13 and its 200-day moving average is $3.66.

Insider Transactions at Clover Health Investments

In other Clover Health Investments 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 owns 1,299,663 shares of the company’s stock, valued at $4,938,719.40. This represents a 3.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carladenise Armbrister Edwards sold 200,000 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3.61, for a total transaction of $722,000.00. Following the completion of the sale, the director now 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. Insiders sold 327,500 shares of company stock worth $1,197,500 over the last quarter. 22.28% of the stock is currently owned by insiders.

Institutional Trading of Clover Health Investments

Institutional investors and hedge funds have recently bought and sold shares of the business. Graypoint LLC acquired a new position in Clover Health Investments in the 4th quarter worth about $632,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Clover Health Investments in the 3rd quarter valued at about $1,228,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Clover Health Investments by 75.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,128,171 shares of the company’s stock worth $3,181,000 after acquiring an additional 485,987 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Clover Health Investments during the 3rd quarter worth about $448,000. Finally, State Street Corp boosted its position in shares of Clover Health Investments by 65.0% during the 3rd quarter. State Street Corp now owns 2,189,380 shares of the company’s stock worth $6,174,000 after purchasing an additional 862,621 shares during the period. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.