Allspring Global Investments Holdings LLC Trims Stock Position in Oscar Health, Inc. (NYSE:OSCR)

Allspring Global Investments Holdings LLC cut its stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 62.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,830 shares of the company's stock after selling 51,169 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Oscar Health were worth $400,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Southeastern Asset Management Inc. TN increased its holdings in shares of Oscar Health by 52.2% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock worth $42,082,000 after buying an additional 1,073,359 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Oscar Health by 37.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,741,306 shares of the company's stock valued at $23,403,000 after purchasing an additional 477,634 shares during the last quarter. Man Group plc increased its holdings in Oscar Health by 344.8% in the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock valued at $24,370,000 after purchasing an additional 1,405,554 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Oscar Health in the fourth quarter worth $1,008,000. Finally, Victory Capital Management Inc. grew its stake in shares of Oscar Health by 296.0% in the fourth quarter. Victory Capital Management Inc. now owns 231,059 shares of the company's stock worth $3,105,000 after acquiring an additional 172,706 shares in the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $16.43, for a total value of $410,750.00. Following the completion of the sale, the director directly owned 64,512 shares of the company's stock, valued at $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on OSCR shares. Raymond James Financial downgraded shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Wells Fargo & Company downgraded shares of Oscar Health from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $16.00 to $10.00 in a research note on Friday. Piper Sandler restated a "neutral" rating and issued a $14.00 price target on shares of Oscar Health in a research note on Monday. Barclays started coverage on shares of Oscar Health in a research note on Wednesday, July 2nd. They issued an "underweight" rating and a $17.00 price target for the company. Finally, Wall Street Zen downgraded shares of Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.92.

Oscar Health Stock Up 5.5%

Shares of Oscar Health stock traded up $0.79 during trading on Monday, hitting $15.17. 31,945,244 shares of the stock were exchanged, compared to its average volume of 7,118,557. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 54.17 and a beta of 1.90. The firm's 50-day moving average price is $16.35 and its 200 day moving average price is $14.90. Oscar Health, Inc. has a 12-month low of $11.20 and a 12-month high of $23.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.87 billion. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. The company's revenue for the quarter was up 42.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. As a group, analysts forecast that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal 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.