Engineers Gate Manager LP Has $8.80 Million Holdings in Oscar Health, Inc. $OSCR

Engineers Gate Manager LP cut its holdings in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 58.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 308,632 shares of the company's stock after selling 431,137 shares during the quarter. Engineers Gate Manager LP owned 0.10% of Oscar Health worth $8,802,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Oscar Health by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company's stock valued at $68,964,000 after purchasing an additional 116,430 shares in the last quarter. BIT Capital GmbH grew its stake in Oscar Health by 545.0% during the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock worth $88,897,000 after buying an additional 5,227,152 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in Oscar Health during the fourth quarter worth about $2,948,000. Fortis Group Advisors LLC increased its holdings in Oscar Health by 82.9% in the 4th quarter. Fortis Group Advisors LLC now owns 189,857 shares of the company's stock valued at $2,724,000 after buying an additional 86,035 shares during the period. Finally, Convergence Investment Partners LLC bought a new position in Oscar Health in the 1st quarter valued at about $1,208,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Stock Up 2.4%

Shares of OSCR opened at $32.53 on Friday. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $33.55. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 0.65 and a beta of 2.37. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day moving average of $30.58 and a 200-day moving average of $23.27.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.70. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. During the same quarter in the previous year, the company posted ($0.89) EPS. Oscar Health's quarterly revenue was up 70.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam Mcananey sold 9,092 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $285,943.40. Following the sale, the insider directly owned 209,004 shares in the company, valued at approximately $6,573,175.80. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, Director Mario Schlosser sold 31,422 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total value of $988,221.90. Following the completion of the transaction, the director directly owned 449,444 shares of the company's stock, valued at $14,135,013.80. This represents a 6.53% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 4,322,257 shares of company stock valued at $126,818,346. 22.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and issued a $36.00 target price on shares of Oscar Health in a research report on Tuesday, July 28th. UBS Group lifted their price objective on shares of Oscar Health from $20.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. The Goldman Sachs Group restated a "neutral" rating and set a $30.00 price objective on shares of Oscar Health in a research report on Tuesday, August 11th. Barclays upped their target price on Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Wall Street Zen raised Oscar Health from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.22.

Oscar Health Profile

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company's primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.

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