Traders Purchase Large Volume of Clover Health Investments Call Options (NASDAQ:CLOV)

Clover Health Investments, Corp. (NASDAQ:CLOV - Get Free Report) saw unusually large options trading on Tuesday. Investors purchased 29,604 call options on the stock. This represents an increase of 35% compared to the average daily volume of 21,958 call options.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLOV. Canaccord Genuity Group upped their price objective on Clover Health Investments from $4.20 to $4.50 and gave the stock a "buy" rating in a research report on Monday, March 3rd. Craig Hallum began coverage on Clover Health Investments in a research report on Tuesday, December 17th. They set a "buy" rating and a $6.00 price objective for the company.

Clover Health Investments Trading Down 0.8 %

Shares of CLOV stock traded down $0.03 on Friday, hitting $3.64. 6,480,128 shares of the stock were exchanged, compared to its average volume of 6,327,543. The business has a 50-day moving average of $4.08 and a 200 day moving average of $3.62. Clover Health Investments has a fifty-two week low of $0.61 and a fifty-two week high of $4.87. The firm has a market capitalization of $1.82 billion, a P/E ratio of -18.20 and a beta of 2.00.

Insiders Place Their Bets

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

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC acquired a new position in Clover Health Investments during the third quarter valued at approximately $28,000. Sigma Planning Corp acquired a new position in Clover Health Investments during the third quarter valued at approximately $29,000. Parallax Volatility Advisers L.P. acquired a new position in Clover Health Investments during the third quarter valued at approximately $38,000. Forum Financial Management LP boosted its position in Clover Health Investments by 33.8% during the third quarter. Forum Financial Management LP now owns 16,077 shares of the company's stock valued at $45,000 after purchasing an additional 4,061 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in Clover Health Investments during the fourth quarter valued at approximately $45,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.