Connor Clark & Lunn Investment Management Ltd. Has $6.58 Million Stake in Oscar Health, Inc. (NYSE:OSCR)

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. raised its holdings in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 19.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 501,972 shares of the company's stock after acquiring an additional 79,979 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.20% of Oscar Health worth $6,581,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Swiss National Bank increased its position in Oscar Health by 1.0% during the first quarter. Swiss National Bank now owns 328,200 shares of the company's stock worth $4,303,000 after acquiring an additional 3,400 shares during the period. WealthPlan Investment Management LLC bought a new stake in Oscar Health in the 1st quarter valued at $256,000. Vanguard Group Inc. increased its holdings in Oscar Health by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock valued at $258,247,000 after buying an additional 700,469 shares during the period. Wealthspire Advisors LLC acquired a new stake in shares of Oscar Health in the 1st quarter valued at $137,000. Finally, BIT Capital GmbH boosted its stake in shares of Oscar Health by 1.1% in the 1st quarter. BIT Capital GmbH now owns 4,521,445 shares of the company's stock valued at $59,276,000 after purchasing an additional 47,592 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Oscar Health Price Performance

OSCR stock traded down $0.25 during midday trading on Thursday, reaching $14.69. The company had a trading volume of 11,131,880 shares, compared to its average volume of 30,872,604. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -18.13 and a beta of 1.86. The stock has a 50 day moving average price of $15.94 and a 200-day moving average price of $14.82. Oscar Health, Inc. has a 1-year low of $11.20 and a 1-year high of $23.79. 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 (NYSE:OSCR - Get Free Report) last released its earnings results 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 for the quarter, compared to analysts' expectations of $2.88 billion. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%. The business's revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. Equities research analysts expect that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on OSCR. Robert W. Baird restated a "neutral" rating and issued a $14.00 target price (down previously from $28.00) on shares of Oscar Health in a research note on Friday, July 25th. UBS Group reiterated a "sell" rating and set a $11.00 price target (down previously from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Raymond James Financial downgraded shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Barclays cut their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Six analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target 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.