Oscar Health (NYSE:OSCR) Shares Gap Up Following Insider Buying Activity

Oscar Health, Inc. (NYSE:OSCR)’s share price gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $13.48, but opened at $14.96. Oscar Health shares last traded at $15.07, with a volume of 717,134 shares.

Specifically, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of Oscar Health stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the acquisition, the director now directly owns 5,452,081 shares in the company, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Joshua Kushner acquired 358,619 shares of Oscar Health stock in a transaction dated Wednesday, November 13th. The shares were purchased at an average price of $13.74 per share, with a total value of $4,927,425.06. Following the acquisition, the insider now owns 5,810,700 shares of the company’s stock, valued at approximately $79,839,018. This trade represents a 6.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Vice Chairman Joshua Kushner purchased 276,040 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the completion of the purchase, the insider now owns 5,031,262 shares in the company, valued at approximately $68,324,537.96. This represents a 5.80 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OSCR. UBS Group began coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price target for the company. Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $21.00 to $13.50 in a research report on Wednesday, November 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $28.00 price target on shares of Oscar Health in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

Oscar Health Stock Down 3.8 %

The firm’s fifty day moving average price is $18.20 and its 200-day moving average price is $18.26. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -247.50 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.91.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. The firm’s revenue for the quarter was up 68.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.29) earnings per share. Sell-side analysts expect that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its holdings in Oscar Health by 7.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock worth $255,000 after acquiring an additional 844 shares during the period. American International Group Inc. grew its holdings in Oscar Health by 1.3% during the 1st quarter. American International Group Inc. now owns 79,411 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,009 shares during the period. Summit Trail Advisors LLC grew its holdings in Oscar Health by 5.4% during the 2nd quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock worth $329,000 after acquiring an additional 1,065 shares during the period. KBC Group NV grew its holdings in Oscar Health by 41.2% during the 3rd quarter. KBC Group NV now owns 4,552 shares of the company’s stock worth $97,000 after acquiring an additional 1,328 shares during the period. Finally, Arizona State Retirement System grew its holdings in Oscar Health by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock worth $602,000 after acquiring an additional 1,351 shares during the period. 75.70% of the stock is owned by institutional investors.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.