Cincinnati Insurance Co. Has $1.42 Million Position in The Oncology Institute, Inc. (NASDAQ:TOI)

Key Points

• Cincinnati Insurance Co. reduced its stake in The Oncology Institute by 39.0%, owning 1,240,795 shares after selling 793,250 shares in the first quarter.
• Several large investors, including Jane Street Group LLC and Virtu Financial LLC, increased their holdings in The Oncology Institute during the fourth quarter.
• Recent insider transactions revealed significant stock sales, with one director selling over 1.9 million shares, marking a 76.61% decrease in their ownership.

Cincinnati Insurance Co. decreased its holdings in shares of The Oncology Institute, Inc. (NASDAQ:TOI - Free Report) by 39.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,240,795 shares of the company's stock after selling 793,250 shares during the quarter. Cincinnati Insurance Co. owned approximately 1.64% of Oncology Institute worth $1,415,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Oncology Institute in the fourth quarter valued at $41,000. Renaissance Technologies LLC lifted its stake in Oncology Institute by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock valued at $56,000 after acquiring an additional 12,000 shares during the last quarter. Jane Street Group LLC lifted its stake in Oncology Institute by 613.6% in the fourth quarter. Jane Street Group LLC now owns 127,659 shares of the company's stock valued at $39,000 after acquiring an additional 109,769 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Oncology Institute by 49.5% in the first quarter. XTX Topco Ltd now owns 55,698 shares of the company's stock valued at $63,000 after acquiring an additional 18,448 shares during the last quarter. Institutional investors and hedge funds own 36.86% of the company's stock.

Insider Activity

In other news, Director Brad Hively sold 1,976,137 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $2.87, for a total value of $5,671,513.19. Following the sale, the director directly owned 603,501 shares in the company, valued at approximately $1,732,047.87. This trade represents a 76.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Growth I. L.P. M33 sold 1,796,468 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $2.71, for a total transaction of $4,868,428.28. Following the completion of the sale, the director owned 14,624,233 shares in the company, valued at approximately $39,631,671.43. The trade was a 10.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,726,137 shares of company stock worth $13,379,013. Insiders own 8.50% of the company's stock.

Oncology Institute Stock Performance

NASDAQ:TOI traded up $0.06 during mid-day trading on Friday, reaching $3.73. 1,582,015 shares of the company's stock were exchanged, compared to its average volume of 2,111,502. The Oncology Institute, Inc. has a one year low of $0.13 and a one year high of $4.03. The firm has a market capitalization of $332.83 million, a PE ratio of -5.33 and a beta of 0.08. The business's fifty day simple moving average is $2.91 and its two-hundred day simple moving average is $1.99. The company has a debt-to-equity ratio of 14.58, a quick ratio of 1.59 and a current ratio of 1.79.

Oncology Institute (NASDAQ:TOI - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.18) EPS for the quarter. Oncology Institute had a negative net margin of 15.38% and a negative return on equity of 445.02%. The firm had revenue of $104.41 million during the quarter.

Analyst Ratings Changes

A number of brokerages have commented on TOI. BTIG Research started coverage on shares of Oncology Institute in a research note on Thursday, May 15th. They issued a "buy" rating and a $7.00 price target for the company. Noble Financial initiated coverage on shares of Oncology Institute in a research report on Wednesday, July 23rd. They issued an "outperform" rating and a $8.00 price objective on the stock. Finally, B. Riley initiated coverage on shares of Oncology Institute in a research report on Wednesday, July 16th. They set a "buy" rating and a $6.00 price target on the stock.

Oncology Institute Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services.