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

Clover Health Investments, Corp. (NASDAQ:CLOV) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 29,604 call options on the company. This is an increase of approximately 35% compared to the typical volume of 21,958 call options.

Clover Health Investments Trading Up 3.0 %

Shares of NASDAQ CLOV opened at $3.83 on Thursday. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -19.15 and a beta of 2.00. Clover Health Investments has a twelve month low of $0.61 and a twelve month high of $4.87. The business has a 50 day simple moving average of $4.07 and a 200-day simple moving average of $3.61.

Hedge Funds Weigh In On Clover Health Investments

A number of hedge funds have recently added to or reduced their stakes in CLOV. Vanguard Group Inc. lifted its position in shares of Clover Health Investments by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 19,585,213 shares of the company’s stock worth $61,693,000 after buying an additional 386,499 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Clover Health Investments by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,882,461 shares of the company’s stock worth $15,387,000 after acquiring an additional 53,760 shares during the last quarter. Marshall Wace LLP boosted its stake in Clover Health Investments by 167.6% in the fourth quarter. Marshall Wace LLP now owns 3,769,765 shares of the company’s stock valued at $11,875,000 after acquiring an additional 2,360,902 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Clover Health Investments by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,000,505 shares of the company’s stock valued at $8,461,000 after purchasing an additional 150,550 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Clover Health Investments by 65.0% during the third quarter. State Street Corp now owns 2,189,380 shares of the company’s stock valued at $6,174,000 after purchasing an additional 862,621 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of Clover Health Investments from $4.20 to $4.50 and gave the company a “buy” rating in a report on Monday. Craig Hallum began coverage on shares of Clover Health Investments in a research note on Tuesday, December 17th. They issued a “buy” rating and a $6.00 target price on the stock.

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.