Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.8167.
Several research firms have recently weighed in on CLOV. UBS Group increased 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. Leerink Partners reduced their price objective on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating for the company in a research report on Thursday, March 5th. Wall Street Zen raised shares of Clover Health Investments from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a research report on Friday, March 27th. Finally, Canaccord Genuity Group raised their price objective on shares of Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a research report on Thursday, June 4th.
Read Our Latest Analysis on CLOV
Clover Health Investments Price Performance
Clover Health Investments (NASDAQ:CLOV – Get Free Report) last released its 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 firm had revenue of $749.19 million for the quarter, compared to analyst estimates of $714.89 million.
Insider Transactions at Clover Health Investments
In other news, Director Carladenise Armbrister Edwards sold 67,160 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $3.42, for a total transaction of $229,687.20. Following the completion of the sale, the director owned 285,432 shares of the company’s stock, valued at $976,177.44. This trade represents a 19.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Conrad Wai sold 220,426 shares of Clover Health Investments stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $3.99, for a total transaction of $879,499.74. Following the completion of the sale, the chief executive officer directly owned 1,390,056 shares of the company’s stock, valued at approximately $5,546,323.44. The trade was a 13.69% 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 390,306 shares of company stock valued at $1,475,864 in the last quarter. 23.51% of the stock is currently owned by company insiders.
Institutional Trading of Clover Health Investments
Several hedge funds have recently bought and sold shares of CLOV. Abel Hall LLC acquired a new stake in Clover Health Investments in the 4th quarter valued at $27,000. Allworth Financial LP grew its position in Clover Health Investments by 218.9% in the 3rd quarter. Allworth Financial LP now owns 9,509 shares of the company’s stock valued at $29,000 after purchasing an additional 6,527 shares during the period. Quadrature Capital Ltd acquired a new stake in Clover Health Investments in the 4th quarter valued at $29,000. Schonfeld Strategic Advisors LLC acquired a new stake in Clover Health Investments in the 4th quarter valued at $29,000. Finally, Envestnet Asset Management Inc. acquired a new stake in Clover Health Investments in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 19.77% of the company’s stock.
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.
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