Clover Health Investments, Corp. (NASDAQ:CLOV) Given Consensus Recommendation of “Hold” by Brokerages

Clover Health Investments, Corp. (NASDAQ:CLOV) has received an average rating of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2.90.

Several brokerages have weighed in on CLOV. Weiss Ratings restated a “sell (d-)” rating on shares of Clover Health Investments in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Clover Health Investments from a “sell” rating to a “hold” rating in a research note on Sunday, February 15th. Canaccord Genuity Group lowered their target price on shares of Clover Health Investments from $3.70 to $3.20 and set a “buy” rating for the company in a report on Friday, March 20th. Finally, Leerink Partners dropped their price target on shares of Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a research report on Thursday, March 5th.

Clover Health Investments Stock Performance

Shares of CLOV opened at $1.80 on Friday. The stock has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $2.54. The firm has a market capitalization of $944.40 million, a P/E ratio of -10.59 and a beta of 2.15. Clover Health Investments has a 52 week low of $1.78 and a 52 week high of $3.92.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Thursday, February 26th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The company had revenue of $487.71 million during the quarter, compared to the consensus estimate of $467.06 million. Clover Health Investments had a negative net margin of 4.45% and a negative return on equity of 25.17%. On average, equities analysts forecast that Clover Health Investments will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other Clover Health Investments news, CEO Brady Patrick Priest sold 175,000 shares of Clover Health Investments stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $2.17, for a total transaction of $379,750.00. Following the transaction, the chief executive officer owned 1,998,584 shares of the company’s stock, valued at $4,336,927.28. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.07% of the company’s stock.

Institutional Trading of Clover Health Investments

A number of hedge funds have recently bought and sold shares of CLOV. Geode Capital Management LLC boosted its position in Clover Health Investments by 95.7% in the second quarter. Geode Capital Management LLC now owns 9,843,349 shares of the company’s stock worth $27,467,000 after purchasing an additional 4,812,368 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Clover Health Investments during the 3rd quarter valued at $8,470,000. Bank of America Corp DE raised its stake in shares of Clover Health Investments by 217.5% during the 2nd quarter. Bank of America Corp DE now owns 4,012,744 shares of the company’s stock worth $11,196,000 after purchasing an additional 2,748,783 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Clover Health Investments by 69.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,634,325 shares of the company’s stock worth $8,542,000 after purchasing an additional 1,494,043 shares during the period. Finally, First Trust Advisors LP purchased a new position in shares of Clover Health Investments in the 2nd quarter worth about $4,149,000. 19.77% of the stock is currently owned by 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.