Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report)’s share price hit a new 52-week high on Monday . The company traded as high as $5.59 and last traded at $5.4550, with a volume of 901681 shares traded. The stock had previously closed at $5.41.
Wall Street Analyst Weigh In
CLOV has been the topic of a number of analyst reports. UBS Group raised their target price on Clover Health Investments from $2.75 to $4.75 and gave the company a “neutral” rating in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday. Canaccord Genuity Group increased their price target on Clover Health Investments from $3.20 to $4.20 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen raised Clover Health Investments from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Leerink Partners cut their price objective on 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. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $3.82.
Check Out Our Latest Research Report on Clover Health Investments
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 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). Clover Health Investments had a negative return on equity of 16.52% and a negative net margin of 2.58%.The company had revenue of $749.19 million for the quarter, compared to analysts’ expectations of $714.89 million.
Insider Transactions at Clover Health Investments
In other Clover Health Investments news, CEO Conrad Wai sold 220,426 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was 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 in the company, valued at approximately $5,546,323.44. The trade was a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 that occurred on Tuesday, June 16th. The shares were sold at an average price of $4.86, for a total value of $58,815.72. Following the transaction, the vice president directly owned 299,067 shares of the company’s stock, valued at $1,453,465.62. The trade was a 3.89% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 402,408 shares of company stock valued at $1,534,679. 23.51% of the stock is currently owned by corporate insiders.
Institutional Trading of Clover Health Investments
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Clover Health Investments by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after purchasing an additional 425,904 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Clover Health Investments by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 9,791,208 shares of the company’s stock worth $23,013,000 after buying an additional 70,801 shares in the last quarter. State Street Corp raised its position 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Clover Health Investments by 9.8% in 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 in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Clover Health Investments by 217.5% in 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 in the last quarter. 19.77% of the stock is currently owned by hedge funds and other 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.
Featured Articles
- Five stocks we like better than Clover Health Investments
- onsemi: What the Market Gets Wrong, You Can Get Right
- Is McCormick a Steal Ahead of Game-Changing Unilever Deal?
- Qualcomm’s Investor Day Just Changed the Growth Story Forever
- JPMorgan Stands by Sky-High Broadcom Target as Shares Slide
Receive News & Ratings for Clover Health Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clover Health Investments and related companies with MarketBeat.com's FREE daily email newsletter.
