Clover Health Investments Sees Unusually Large Options Volume (NASDAQ:CLOV)

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

Insiders Place Their Bets

In other news, Director Anna U. Loengard purchased 137,000 shares of the stock in a transaction that occurred 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 purchase, the director now owns 538,841 shares in the company, valued at approximately $393,353.93. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.82% of the company’s stock.

Institutional Trading of Clover Health Investments

Several institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. boosted its position in Clover Health Investments by 4,040.8% in the third quarter. Citigroup Inc. now owns 372,421 shares of the company’s stock worth $402,000 after purchasing an additional 363,427 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Clover Health Investments in the fourth quarter worth about $162,000. Jump Financial LLC purchased a new stake in Clover Health Investments in the fourth quarter worth about $125,000. Allspring Global Investments Holdings LLC increased its stake in Clover Health Investments by 151.2% during the 1st 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 in the last quarter. Finally, SignalPoint Asset Management LLC increased its holdings in Clover Health Investments by 40.3% in the 1st quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock worth $111,000 after buying an additional 40,000 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

Clover Health Investments Trading Up 17.2 %

Shares of Clover Health Investments stock traded up $0.13 during mid-day trading on Wednesday, reaching $0.87. 12,023,051 shares of the stock were exchanged, compared to its average volume of 8,377,328. The company 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 has a fifty-two week low of $0.61 and a fifty-two week high of $1.63. The firm has a 50-day simple moving average of $0.75 and a 200 day simple moving average of $0.89.

Clover Health Investments (NASDAQ:CLOV) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.06. The business had revenue of $510.25 million for the quarter, compared to the consensus estimate of $491.20 million. Clover Health Investments had a negative return on equity of 62.58% and a negative net margin of 10.49%. On average, research analysts predict that Clover Health Investments will post -0.2 EPS for the current fiscal year.

About Clover Health Investments

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.