Cincinnati Insurance Co. Cuts Stock 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. lowered its stake in The Oncology Institute, Inc. (NASDAQ:TOI - Free Report) by 39.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

Other institutional investors and hedge funds also recently modified their holdings of the company. XTX Topco Ltd raised its position 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 purchasing an additional 18,448 shares during the last quarter. Jane Street Group LLC raised its stake in shares of Oncology Institute by 613.6% during 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. Virtu Financial LLC acquired a new position in shares of Oncology Institute during the fourth quarter worth $41,000. Finally, Renaissance Technologies LLC grew its stake in shares of Oncology Institute by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 182,000 shares of the company's stock worth $56,000 after purchasing an additional 12,000 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

Oncology Institute Trading Up 1.6%

Shares of NASDAQ:TOI traded up $0.06 on Friday, reaching $3.73. 1,582,015 shares of the company traded hands, compared to its average volume of 2,111,502. The Oncology Institute, Inc. has a 52 week low of $0.13 and a 52 week high of $4.03. The company has a quick ratio of 1.59, a current ratio of 1.79 and a debt-to-equity ratio of 14.58. The business's 50-day simple moving average is $2.89 and its 200 day simple moving average is $1.96.

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

Insider Transactions at Oncology Institute

In related news, Director Brad Hively sold 1,976,137 shares of the stock in a transaction dated 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 of the company's stock, valued at $1,732,047.87. This represents a 76.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Growth I. L.P. M33 sold 76,324 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $3.05, for a total value of $232,788.20. Following the completion of the transaction, the director directly owned 1,272,724 shares of the company's stock, valued at approximately $3,881,808.20. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,726,137 shares of company stock worth $13,379,013 over the last quarter. 8.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

About Oncology Institute

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.