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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the recipient of unusually large options trading activity on Thursday. Stock traders purchased 28,694 call options on the stock. This is an increase of approximately 57% compared to the average volume of 18,300 call options.

Clover Health Investments Price Performance

Shares of CLOV stock opened at $2.82 on Friday. The company’s fifty day moving average price is $1.89 and its two-hundred day moving average price is $1.22. The firm has a market capitalization of $1.40 billion, a P/E ratio of -8.29 and a beta of 2.10. Clover Health Investments has a 12 month low of $0.61 and a 12 month high of $3.82.

Clover Health Investments (NASDAQ:CLOV) last released its quarterly earnings results on Monday, August 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. Clover Health Investments had a negative return on equity of 48.07% and a negative net margin of 8.63%. The business had revenue of $356.26 million for the quarter, compared to analysts’ expectations of $338.70 million. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Clover Health Investments will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Clover Health Investments

Several institutional investors and hedge funds have recently made changes to their positions in the business. Jaffetilchin Investment Partners LLC raised its holdings in Clover Health Investments by 30.2% in the first quarter. Jaffetilchin Investment Partners LLC now owns 49,741 shares of the company’s stock valued at $39,000 after acquiring an additional 11,550 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Clover Health Investments by 54.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 34,372 shares of the company’s stock worth $42,000 after purchasing an additional 12,104 shares during the last quarter. Viewpoint Capital Management LLC increased its position in shares of Clover Health Investments by 96.8% in the 2nd quarter. Viewpoint Capital Management LLC now owns 30,500 shares of the company’s stock worth $38,000 after purchasing an additional 15,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Clover Health Investments by 68.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 75,444 shares of the company’s stock valued at $72,000 after purchasing an additional 30,776 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Clover Health Investments by 4.6% during the second quarter. AQR Capital Management LLC now owns 729,706 shares of the company’s stock worth $898,000 after purchasing an additional 32,288 shares during the last quarter. 19.77% of the stock is currently 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.