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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of some unusual options trading on Monday. Stock traders acquired 33,262 call options on the stock. This is an increase of approximately 68% compared to the typical daily volume of 19,833 call options.

Insider Buying and Selling at Clover Health Investments

In related news, CEO Brady Patrick Priest sold 75,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $3.68, for a total value of $276,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,418,151 shares in the company, valued at approximately $8,898,795.68. The trade was a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Karen Soares sold 52,500 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $3.80, for a total value of $199,500.00. Following the sale, the general counsel now owns 1,299,663 shares in the company, valued at $4,938,719.40. The trade was a 3.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 327,500 shares of company stock valued at $1,197,500 in the last 90 days. Corporate insiders own 22.28% of the company’s stock.

Hedge Funds Weigh In On Clover Health Investments

A number of large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Clover Health Investments by 4.2% during the fourth quarter. California State Teachers Retirement System now owns 351,446 shares of the company’s stock valued at $1,107,000 after purchasing an additional 14,068 shares during the period. Jefferies Financial Group Inc. bought a new stake in Clover Health Investments during the 4th quarter valued at $135,000. Mackenzie Financial Corp boosted its position in Clover Health Investments by 211.3% during the 4th quarter. Mackenzie Financial Corp now owns 78,193 shares of the company’s stock valued at $246,000 after buying an additional 53,076 shares during the period. Alpine Global Management LLC bought a new stake in Clover Health Investments in the 4th quarter worth $226,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Clover Health Investments by 90.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 830,457 shares of the company’s stock valued at $2,616,000 after acquiring an additional 394,881 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Stock Up 2.4 %

NASDAQ CLOV opened at $3.81 on Tuesday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -19.05 and a beta of 2.00. The company has a 50-day simple moving average of $4.13 and a two-hundred day simple moving average of $3.67. Clover Health Investments has a 12-month low of $0.61 and a 12-month high of $4.87.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CLOV shares. Canaccord Genuity Group raised their price objective on Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday, March 3rd. Craig Hallum initiated coverage on shares of Clover Health Investments in a research report on Tuesday, December 17th. They set a “buy” rating and a $6.00 price target on the stock.

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.