Jacobs Levy Equity Management Inc. Decreases Holdings in Oscar Health, Inc. $OSCR

Key Points

• Jacobs Levy Equity Management Inc. has significantly reduced its stake in Oscar Health, Inc. by 88.3%, now owning 203,924 shares valued at $2.67 million.
• Oscar Health's stock has been downgraded by multiple analysts, with Wells Fargo lowering its target price from $16.00 to $10.00 and a majority rating the stock as a Sell.
• The company reported a negative net margin of 1.50% and earnings per share of ($0.89), which exceeded analysts' expectations despite lower revenue than anticipated.

Jacobs Levy Equity Management Inc. reduced its position in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 88.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,924 shares of the company's stock after selling 1,537,382 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.08% of Oscar Health worth $2,673,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of OSCR. Nuveen LLC bought a new stake in Oscar Health in the first quarter valued at approximately $29,684,000. Thrive Capital Management LLC grew its position in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after acquiring an additional 1,588,395 shares during the last quarter. Man Group plc lifted its holdings in Oscar Health by 344.8% during the 4th quarter. Man Group plc now owns 1,813,216 shares of the company's stock worth $24,370,000 after buying an additional 1,405,554 shares during the period. Southeastern Asset Management Inc. TN raised its position in shares of Oscar Health by 52.2% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 3,131,084 shares of the company's stock worth $42,082,000 after acquiring an additional 1,073,359 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Oscar Health by 3,062.3% in the 4th quarter. Ameriprise Financial Inc. now owns 976,563 shares of the company's stock worth $13,125,000 after acquiring an additional 945,682 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Stock Down 0.5%

Shares of NYSE OSCR traded down $0.10 on Friday, reaching $19.33. 10,863,907 shares of the company's stock traded hands, compared to its average volume of 17,290,522. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -23.86 and a beta of 1.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.26. The business's 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $15.15. Oscar Health, Inc. has a 12 month low of $11.20 and a 12 month high of $23.79.

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

Analysts Set New Price Targets

OSCR has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a "neutral" rating and issued a $14.00 target price (down from $28.00) on shares of Oscar Health in a research report on Friday, July 25th. Raymond James Financial downgraded Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Wells Fargo & Company cut shares of Oscar Health from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $16.00 to $10.00 in a report on Friday, July 11th. Piper Sandler reduced their target price on Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Oscar Health from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus price target of $12.07.

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.