Clover Health Investments (NASDAQ:CLOV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Clover Health Investments (NASDAQ:CLOVFree Report) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

Several other brokerages have also recently issued reports on CLOV. Canaccord Genuity Group boosted their price objective on Clover Health Investments from $4.20 to $5.50 and gave the company a “buy” rating in a report on Tuesday, July 21st. UBS Group raised their target price on Clover Health Investments from $4.75 to $5.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a research report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Clover Health Investments currently has a consensus rating of “Hold” and a consensus target price of $4.33.

Get Our Latest Report on Clover Health Investments

Clover Health Investments Price Performance

Shares of Clover Health Investments stock opened at $4.57 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of -91.38 and a beta of 2.48. The firm has a fifty day moving average price of $4.66 and a 200 day moving average price of $3.19. Clover Health Investments has a 1 year low of $1.58 and a 1 year high of $5.59.

Clover Health Investments (NASDAQ:CLOVGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $743.17 million for the quarter, compared to analyst estimates of $728.27 million. Clover Health Investments had a negative net margin of 0.74% and a negative return on equity of 4.35%.

Insiders Place Their Bets

In other news, CEO Brady Patrick Priest sold 98,039 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $3.52, for a total transaction of $345,097.28. Following the sale, the chief executive officer directly owned 2,040,222 shares of the company’s stock, valued at $7,181,581.44. This represents a 4.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, the vice president directly owned 299,067 shares in the company, valued at approximately $1,453,465.62. The trade was a 3.89% decrease in their ownership of the stock. 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 90 days, insiders have sold 803,682 shares of company stock valued at $3,610,632. Insiders own 23.51% of the company’s stock.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds have recently bought and sold shares of CLOV. Vanguard Group Inc. increased its position in shares of Clover Health Investments by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 23,485,912 shares of the company’s stock valued at $55,192,000 after buying an additional 425,904 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Clover Health Investments by 0.7% during the 4th 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 lifted its position in shares of Clover Health Investments by 4.1% during the 4th 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. grew its stake in Clover Health Investments by 9.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,690,904 shares of the company’s stock valued at $11,024,000 after acquiring an additional 419,389 shares during the period. Finally, Bank of America Corp DE grew its stake in Clover Health Investments by 217.5% in the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock valued at $11,196,000 after acquiring an additional 2,748,783 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

About Clover Health Investments

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Clover Health Investments (NASDAQ:CLOV)

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