Clover Health Investments, Corp. (NASDAQ:CLOV) Receives Average Recommendation of “Hold” from Analysts

by · The Markets Daily

Shares of Clover Health Investments, Corp. (NASDAQ:CLOV – Get Free Report) have been given an average rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.3333.

A number of analysts recently commented on CLOV shares. UBS Group upped their price objective on shares of Clover Health Investments from $4.75 to $5.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clover Health Investments in a report on Wednesday, June 24th. Wall Street Zen cut Clover Health Investments from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Canaccord Genuity Group increased their price target on Clover Health Investments from $4.20 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, July 21st.

Check Out Our Latest Stock Report on CLOV

Insider Activity at Clover Health Investments

In other Clover Health Investments news, CEO Andrew Toy sold 313,476 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $5.32, for a total transaction of $1,667,692.32. Following the sale, the chief executive officer directly owned 9,609,825 shares in the company, valued at approximately $51,124,269. This trade represents a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, VP Joseph Frank Oldakowski sold 12,102 shares of the firm’s stock in a transaction that occurred on 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 owned 299,067 shares in the company, valued at $1,453,465.62. This trade represents a 3.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 418,057 shares of company stock valued at $2,156,348 over the last quarter. 23.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Clover Health Investments

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in shares of 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 purchasing an additional 2,748,783 shares during the period. California State Teachers Retirement System boosted its position in shares of Clover Health Investments by 387.2% during the second quarter. California State Teachers Retirement System now owns 2,421,577 shares of the company’s stock worth $12,689,000 after buying an additional 1,924,571 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Clover Health Investments by 69.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after buying an additional 1,494,043 shares during the period. First Trust Advisors LP bought a new position in shares of Clover Health Investments during the second quarter worth about $4,149,000. Finally, UBS Group AG grew its holdings in shares of Clover Health Investments by 155.5% during the third quarter. UBS Group AG now owns 2,282,113 shares of the company’s stock worth $6,983,000 after buying an additional 1,388,761 shares in the last quarter. 19.77% of the stock is owned by institutional investors.

Clover Health Investments Stock Performance

Shares of NASDAQ CLOV opened at $4.23 on Monday. The stock has a market cap of $2.25 billion, a P/E ratio of -84.58 and a beta of 2.48. The firm has a 50 day moving average price of $4.61 and a 200 day moving average price of $3.38. Clover Health Investments has a 52-week low of $1.58 and a 52-week high of $5.59.

Clover Health Investments (NASDAQ:CLOV – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share for the quarter, topping 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 4.20%.

Clover Health Investments Company Profile

(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.

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