Investors Buy Large Volume of Call Options on Clover Health Investments (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of unusually large options trading activity on Wednesday. Stock investors bought 9,323 call options on the company. This is an increase of 67% compared to the typical volume of 5,587 call options.

Insiders Place Their Bets

In related news, Director Anna U. Loengard purchased 137,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $0.73 per share, with a total value of $100,010.00. Following the completion of the acquisition, the director now owns 538,841 shares in the company, valued at approximately $393,353.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 21.82% of the company’s stock.

Institutional Trading of Clover Health Investments

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Clover Health Investments during the third quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Clover Health Investments in the 3rd quarter valued at $26,000. Rathbones Group PLC purchased a new position in shares of Clover Health Investments during the third quarter valued at $27,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Clover Health Investments by 68.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after acquiring an additional 30,776 shares in the last quarter. Finally, SignalPoint Asset Management LLC grew its stake in shares of Clover Health Investments by 40.3% in the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock valued at $111,000 after buying an additional 40,000 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

Clover Health Investments Stock Performance

Shares of Clover Health Investments stock traded up $0.13 during trading hours on Wednesday, hitting $0.87. The company’s stock had a trading volume of 12,023,051 shares, compared to its average volume of 8,377,328. The firm has a fifty day moving average of $0.75 and a 200-day moving average of $0.89. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $1.63. The stock has a market cap of $429.61 million, a price-to-earnings ratio of -1.88 and a beta of 1.88.

Clover Health Investments (NASDAQ:CLOV) last posted its earnings results on Tuesday, March 12th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.06. The firm had revenue of $510.25 million for the quarter, compared to the consensus estimate of $491.20 million. Clover Health Investments had a negative net margin of 10.49% and a negative return on equity of 62.58%. On average, sell-side analysts expect that Clover Health Investments will post -0.2 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.