Oscar Health, Inc. (NYSE:OSCR) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Oscar Health by 19% during the first quarter, acquiring an additional 79,979 shares, bringing its total ownership to approximately 501,972 shares valued at $6.58 million.
• Oscar Health reported a loss of $0.89 EPS for the most recent quarter, exceeding analysts' expectations, while its revenue was $2.86 billion, slightly below forecasts.
• Investment analysts have downgraded Oscar Health's stock with a consensus rating of "Reduce" and a target price of $12.21, reflecting concerns over its performance and outlook.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 19.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,972 shares of the company's stock after purchasing an additional 79,979 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Oscar Health worth $6,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Alliancebernstein L.P. raised its position in Oscar Health by 1.1% during the fourth quarter. Alliancebernstein L.P. now owns 243,160 shares of the company's stock worth $3,268,000 after acquiring an additional 2,600 shares during the period. Russell Investments Group Ltd. raised its position in shares of Oscar Health by 63.3% in the fourth quarter. Russell Investments Group Ltd. now owns 216,782 shares of the company's stock valued at $2,914,000 after buying an additional 84,029 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Oscar Health in the fourth quarter valued at about $6,613,000. Summit Investment Advisors Inc. raised its position in shares of Oscar Health by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 20,838 shares of the company's stock valued at $280,000 after buying an additional 1,141 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Oscar Health by 10.8% in the fourth quarter. Barclays PLC now owns 361,062 shares of the company's stock valued at $4,852,000 after buying an additional 35,244 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Trading Up 6.5%

Shares of OSCR traded up $0.95 during mid-day trading on Friday, reaching $15.63. The stock had a trading volume of 24,657,100 shares, compared to its average volume of 28,999,364. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. Oscar Health, Inc. has a 52-week low of $11.20 and a 52-week high of $23.79. The business's fifty day moving average is $15.94 and its 200 day moving average is $14.80. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of -19.30 and a beta of 1.86.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OSCR shares. Barclays reduced their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, July 23rd. Raymond James Financial cut shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $16.00 to $10.00 in a research report on Friday, July 11th. Wall Street Zen cut shares of Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Baird R W cut shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 25th. Six analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $12.07.

Oscar Health 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.