Dragoneer Investment Group LLC Lowers Position in Oscar Health, Inc. $OSCR

Key Points

• Dragoneer Investment Group cut its Oscar Health stake by 51.2% in the fourth quarter, selling 688,719 shares and leaving it with 657,435 shares worth about $9.45 million.
• Analyst sentiment on OSCR is mixed but generally cautious: the consensus rating is Hold with a consensus price target of $20.78, even after recent upgrades from Jefferies and Barclays.
• Oscar Health beat quarterly earnings expectations with $2.07 EPS versus the $1.11 estimate, while revenue rose 52.6% year over year to $4.65 billion; the stock was trading near its 52-week high at $28.46.

Dragoneer Investment Group LLC trimmed its stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 657,435 shares of the company's stock after selling 688,719 shares during the quarter. Oscar Health comprises 0.2% of Dragoneer Investment Group LLC's portfolio, making the stock its 24th largest position. Dragoneer Investment Group LLC owned about 0.25% of Oscar Health worth $9,447,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. ExodusPoint Capital Management LP grew its holdings in Oscar Health by 141.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 343,571 shares of the company's stock valued at $4,937,000 after purchasing an additional 201,211 shares during the period. Persistent Asset Partners Ltd purchased a new stake in Oscar Health in the fourth quarter valued at approximately $273,000. Nicholas Wealth LLC. grew its holdings in Oscar Health by 7.0% in the fourth quarter. Nicholas Wealth LLC. now owns 79,251 shares of the company's stock valued at $1,139,000 after purchasing an additional 5,191 shares during the period. Fieldview Capital Management LLC purchased a new stake in Oscar Health in the fourth quarter valued at approximately $351,000. Finally, Clear Street Group Inc. grew its holdings in Oscar Health by 8,500.9% in the fourth quarter. Clear Street Group Inc. now owns 260,345 shares of the company's stock valued at $3,741,000 after purchasing an additional 263,444 shares during the period. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Oscar Health from an "underperform" rating to a "hold" rating and boosted their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Barclays raised shares of Oscar Health from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $30.00 to $35.00 in a research report on Wednesday, June 10th. Wolfe Research initiated coverage on shares of Oscar Health in a report on Tuesday, May 5th. They set a "peer perform" rating on the stock. Weiss Ratings raised shares of Oscar Health from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, June 9th. Finally, Zacks Research cut shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.78.

Oscar Health Price Performance

Shares of OSCR stock opened at $28.46 on Wednesday. The company has a market capitalization of $8.58 billion, a PE ratio of -48.24, a price-to-earnings-growth ratio of 2.04 and a beta of 2.37. The firm has a fifty day simple moving average of $20.72 and a 200-day simple moving average of $16.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a twelve month low of $10.69 and a twelve month high of $29.81.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.96. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The business's quarterly revenue was up 52.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 earnings per share. Equities research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mario Schlosser sold 34,120 shares of the company's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $748,592.80. Following the completion of the transaction, the director directly owned 480,866 shares in the company, valued at approximately $10,550,200.04. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Scott Blackley sold 100,000 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $23.16, for a total transaction of $2,316,000.00. Following the completion of the sale, the chief financial officer directly owned 1,216,660 shares in the company, valued at $28,177,845.60. This represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 189,660 shares of company stock valued at $4,283,140. Corporate insiders own 25.11% of the company's stock.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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