Los Angeles Capital Management LLC Acquires New Position in Oscar Health, Inc. (NYSE:OSCR)

Los Angeles Capital Management LLC acquired a new stake in Oscar Health, Inc. (NYSE:OSCR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 29,561 shares of the company’s stock, valued at approximately $627,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Oscar Health by 2.4% during the first quarter. Vanguard Group Inc. now owns 14,582,762 shares of the company’s stock worth $216,846,000 after acquiring an additional 337,850 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Oscar Health by 153.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,978,152 shares of the company’s stock valued at $59,156,000 after buying an additional 2,409,160 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Oscar Health by 31.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,886,100 shares of the company’s stock valued at $61,478,000 after buying an additional 934,600 shares in the last quarter. First Light Asset Management LLC increased its holdings in Oscar Health by 117.3% in the first quarter. First Light Asset Management LLC now owns 2,102,554 shares of the company’s stock worth $31,265,000 after buying an additional 1,134,919 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Oscar Health by 32.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company’s stock valued at $32,368,000 after acquiring an additional 507,009 shares in the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Bank of America downgraded Oscar Health from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $21.00 to $13.50 in a research note on Wednesday, November 6th. Finally, UBS Group started coverage on Oscar Health in a report on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.93.

Insider Activity

In other Oscar Health news, insider Mario Schlosser sold 3,198 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total transaction of $57,532.02. Following the sale, the insider now directly owns 76,982 shares of the company’s stock, valued at approximately $1,384,906.18. This represents a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average cost of $13.68 per share, with a total value of $5,756,803.92. Following the acquisition, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 1,055,478 shares of company stock worth $14,432,852 and have sold 169,569 shares worth $3,007,069. Corporate insiders own 25.11% of the company’s stock.

Oscar Health Trading Down 3.7 %

Shares of Oscar Health stock opened at $14.87 on Friday. Oscar Health, Inc. has a 52-week low of $6.93 and a 52-week high of $23.79. The firm has a market capitalization of $3.60 billion, a PE ratio of -247.83 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. The company’s fifty day moving average price is $18.20 and its two-hundred day moving average price is $18.27.

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

About Oscar Health

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.