Cresset Asset Management LLC Invests $762,000 in Oscar Health, Inc. $OSCR

Key Points

• Cresset Asset Management LLC acquired 58,156 shares of Oscar Health, Inc. for approximately $762,000 in the first quarter of the year.
• Multiple large investors have significantly increased their stakes in Oscar Health, with institutional investors now owning 75.70% of the stock.
• Research analysts hold a negative outlook on Oscar Health, with a consensus rating of "Strong Sell" and a reduced average price target of $12.07.

Cresset Asset Management LLC purchased a new position in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 58,156 shares of the company's stock, valued at approximately $762,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. American Century Companies Inc. raised its position in Oscar Health by 50.0% in the 1st quarter. American Century Companies Inc. now owns 1,927,261 shares of the company's stock valued at $25,266,000 after buying an additional 642,057 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Oscar Health by 484.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock valued at $45,000 after buying an additional 2,854 shares during the last quarter. Nuveen LLC acquired a new stake in Oscar Health in the 1st quarter valued at approximately $29,684,000. Virtu Financial LLC raised its position in Oscar Health by 246.7% in the 1st quarter. Virtu Financial LLC now owns 36,037 shares of the company's stock valued at $472,000 after buying an additional 25,644 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Oscar Health in the 1st quarter valued at approximately $165,000. Institutional investors and hedge funds own 75.70% of the company's stock.

Oscar Health Price Performance

NYSE OSCR traded down $0.08 during midday trading on Monday, hitting $16.72. The company had a trading volume of 18,647,209 shares, compared to its average volume of 19,934,982. The company has a market capitalization of $4.32 billion, a PE ratio of -20.64 and a beta of 1.86. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $16.16 and a 200-day moving average price of $14.81. Oscar Health, Inc. has a twelve month low of $11.20 and a twelve month high of $23.79.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.89) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.01. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.88 billion. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.The company's quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.20 EPS. As a group, analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OSCR has been the topic of a number of recent research reports. Piper Sandler dropped their target price on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Barclays dropped their target price on Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company downgraded Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $16.00 to $10.00 in a research note on Friday, July 11th. Wall Street Zen downgraded Oscar Health from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group restated a "sell" rating and issued a $11.00 price target (down from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health 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.