Magnetar Financial LLC Makes New $1.44 Million Investment in Oscar Health, Inc. $OSCR

Key Points

• Magnetar Financial LLC has made a new investment of approximately $1.44 million in Oscar Health, acquiring 109,977 shares during the first quarter.
• Oscar Health's stock has recently experienced downward pressure, with multiple analyst downgrades and a current consensus rating of "Strong Sell".
• The company's earnings report revealed a loss of ($0.89) per share, though revenue increased by 29.0% compared to the same quarter last year.

Magnetar Financial LLC bought a new position in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 109,977 shares of the company's stock, valued at approximately $1,442,000.

Several other hedge funds have also recently bought and sold shares of OSCR. Larson Financial Group LLC increased its position in Oscar Health by 83,733.3% during the first quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after buying an additional 2,512 shares during the last quarter. CWM LLC increased its position in Oscar Health by 50.7% during the first quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after buying an additional 1,078 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in Oscar Health by 484.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock worth $45,000 after buying an additional 2,854 shares during the last quarter. Cliffwater LLC acquired a new position in Oscar Health during the first quarter worth $58,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Oscar Health in the first quarter valued at about $59,000. 75.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on OSCR shares. Robert W. Baird reaffirmed a "neutral" rating and issued a $14.00 price target (down from $28.00) on shares of Oscar Health in a research report on Friday, July 25th. UBS Group reaffirmed a "sell" rating and issued a $11.00 price target (down from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Wall Street Zen downgraded Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Piper Sandler lowered their price target on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Finally, Barclays lowered their price target on Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Four analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Strong Sell" and a consensus target price of $12.07.

Oscar Health Stock Down 3.4%

OSCR stock opened at $16.66 on Friday. Oscar Health, Inc. has a twelve month low of $11.20 and a twelve month high of $23.79. The company has a market cap of $4.31 billion, a PE ratio of -20.56 and a beta of 1.86. The business's 50-day simple moving average is $16.02 and its 200 day simple moving average is $14.89. 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 released its earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share 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 business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the business earned $0.20 earnings per share. The firm's revenue for the quarter was up 29.0% compared to the same quarter last year. On average, research analysts anticipate that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

About Oscar Health

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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