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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of unusually large options trading activity on Tuesday. Traders bought 13,027 call options on the stock. This represents an increase of 43% compared to the typical daily volume of 9,096 call options.

Hedge Funds Weigh In On Clover Health Investments

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jaffetilchin Investment Partners LLC grew its stake in Clover Health Investments by 30.2% during the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock worth $39,000 after purchasing an additional 11,550 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Clover Health Investments in the first quarter worth $91,000. Bayesian Capital Management LP acquired a new stake in Clover Health Investments in the first quarter worth $142,000. Jupiter Asset Management Ltd. increased its stake in Clover Health Investments by 18.1% in the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock valued at $3,593,000 after purchasing an additional 692,878 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Clover Health Investments by 151.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock valued at $62,000 after purchasing an additional 46,912 shares during the period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Clover Health Investments Price Performance

NASDAQ CLOV traded up $0.13 on Tuesday, reaching $1.90. The company had a trading volume of 5,269,940 shares, compared to its average volume of 7,445,534. The firm has a market cap of $943.24 million, a price-to-earnings ratio of -5.62 and a beta of 2.11. The business has a 50 day moving average of $1.27 and a two-hundred day moving average of $0.99. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $1.95.

Clover Health Investments (NASDAQ:CLOV) last released its earnings results on Tuesday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $346.92 million during the quarter, compared to the consensus estimate of $316.10 million. Clover Health Investments had a negative net margin of 8.63% and a negative return on equity of 48.07%. As a group, research analysts predict that Clover Health Investments will post -0.21 earnings per share for the current fiscal year.

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.