Hennessy Advisors Inc. Decreases Position in Oscar Health, Inc. $OSCR

Key Points

• Hennessy Advisors Inc. reduced its stake in Oscar Health, Inc. by 24.6%, selling 934,500 shares and now holds approximately 2.1% of its portfolio in the company.
• Oscar Health reported a loss of ($0.89) EPS for the last quarter, slightly beating analyst expectations, with revenues of $2.86 billion up by 29% year-over-year.
• Recent analyst ratings have generally been negative, with several firms lowering their target prices, leading to a consensus rating of "Strong Sell" with an average target price of $12.07.

Hennessy Advisors Inc. trimmed its stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 24.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,871,700 shares of the company's stock after selling 934,500 shares during the period. Oscar Health makes up approximately 2.1% of Hennessy Advisors Inc.'s portfolio, making the stock its 4th biggest holding. Hennessy Advisors Inc. owned approximately 1.13% of Oscar Health worth $61,569,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Fortis Capital Advisors LLC purchased a new stake in Oscar Health in the second quarter worth approximately $690,000. Ameritas Advisory Services LLC bought a new position in Oscar Health during the second quarter valued at approximately $93,000. Matauro LLC bought a new position in Oscar Health during the second quarter valued at approximately $1,508,000. Bosman Wealth Management LLC bought a new position in Oscar Health during the second quarter valued at approximately $1,702,000. Finally, Janney Montgomery Scott LLC grew its position in Oscar Health by 32.0% during the second quarter. Janney Montgomery Scott LLC now owns 71,152 shares of the company's stock valued at $1,525,000 after acquiring an additional 17,245 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Stock Performance

Shares of OSCR stock opened at $21.67 on Friday. The stock has a fifty day moving average of $17.05 and a 200 day moving average of $15.58. Oscar Health, Inc. has a 52 week low of $11.20 and a 52 week high of $22.78. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -26.75 and a beta of 1.89. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.01. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $0.20 earnings per share. The firm's revenue was up 29.0% on a year-over-year basis. As a group, research analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OSCR shares. Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Baird R W lowered Oscar Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. Barclays dropped their price objective on Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, July 23rd. Piper Sandler dropped their price objective on Oscar Health from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oscar Health in a research note on Saturday, September 27th. Four equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Oscar Health currently has a consensus rating of "Strong Sell" and an average target price of $12.07.

Insider Activity

In related news, insider Mario Schlosser sold 395,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $18.43, for a total value of $7,279,850.00. Following the completion of the transaction, the insider directly owned 501,148 shares in the company, valued at $9,236,157.64. This trade represents a 44.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.39% of the stock is currently owned by insiders.

Oscar Health Company Profile

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.

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