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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 42,280 call options on the stock. This represents an increase of approximately 106% compared to the typical volume of 20,478 call options.

Clover Health Investments Stock Performance

Clover Health Investments stock opened at $3.59 on Thursday. The company has a market cap of $1.78 billion, a P/E ratio of -10.56 and a beta of 2.13. Clover Health Investments has a one year low of $0.61 and a one year high of $3.82. The business has a fifty day moving average of $2.61 and a two-hundred day moving average of $1.56.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings data on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. Clover Health Investments had a negative net margin of 7.30% and a negative return on equity of 36.55%. The firm had revenue of $356.26 million for the quarter, compared to the consensus estimate of $338.70 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that Clover Health Investments will post -0.13 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

Hedge funds have recently bought and sold shares of the company. SignalPoint Asset Management LLC grew its holdings in Clover Health Investments by 40.3% in the first quarter. SignalPoint Asset Management LLC now owns 139,366 shares of the company’s stock valued at $111,000 after purchasing an additional 40,000 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Clover Health Investments by 151.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 77,948 shares of the company’s stock worth $62,000 after acquiring an additional 46,912 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Clover Health Investments by 18.1% in the first quarter. Jupiter Asset Management Ltd. now owns 4,525,079 shares of the company’s stock valued at $3,593,000 after purchasing an additional 692,878 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Clover Health Investments in the first quarter valued at about $142,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Clover Health Investments in the first quarter valued at approximately $91,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.