Oscar Health, Inc. $OSCR Stock Sold by Glynn Capital Management LLC

Key Points

• Glynn Capital Management reduced its Oscar Health stake by 46.4% in the third quarter, selling 1.19 million shares and retaining 1.38 million shares valued at approximately $42.6 million. Institutional investors and hedge funds collectively own 75.7% of OSCR.
• Oscar Health insiders sold 874,451 shares worth $26.8 million over the past three months, including a director’s sale of 600,000 shares. Insiders still own 22.64% of the company.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $33.90 target price, while recent quarterly results exceeded expectations: EPS was $1.10 versus a $0.40 estimate, and revenue rose 70.4% year over year to $4.88 billion.

Glynn Capital Management LLC cut its holdings in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 46.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,380,836 shares of the company's stock after selling 1,194,992 shares during the period. Oscar Health comprises about 12.4% of Glynn Capital Management LLC's holdings, making the stock its 2nd largest position. Glynn Capital Management LLC owned about 0.45% of Oscar Health worth $42,585,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its stake in Oscar Health by 526.3% in the 2nd quarter. CoreCap Advisors LLC now owns 1,190 shares of the company's stock worth $34,000 after acquiring an additional 1,000 shares during the period. GAMMA Investing LLC raised its holdings in Oscar Health by 32.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,441 shares of the company's stock valued at $41,000 after acquiring an additional 357 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Oscar Health during the 2nd quarter worth $57,000. Allworth Financial LP boosted its holdings in shares of Oscar Health by 124.9% during the second quarter. Allworth Financial LP now owns 2,031 shares of the company's stock worth $58,000 after purchasing an additional 1,128 shares during the last quarter. Finally, IFP Advisors Inc boosted its holdings in shares of Oscar Health by 69.5% during the second quarter. IFP Advisors Inc now owns 2,139 shares of the company's stock worth $61,000 after purchasing an additional 877 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Oscar Health

In other Oscar Health news, insider Adam Mcananey sold 9,092 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total value of $285,943.40. Following the completion of the transaction, the insider directly owned 209,004 shares of the company's stock, valued at $6,573,175.80. This represents a 4.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mario Schlosser sold 600,000 shares of the firm's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $30.34, for a total value of $18,204,000.00. Following the sale, the director owned 480,866 shares of the company's stock, valued at $14,589,474.44. This represents a 55.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 874,451 shares of company stock worth $26,761,671 over the last three months. Insiders own 22.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on OSCR shares. Raymond James Financial upped their target price on Oscar Health from $34.00 to $42.00 and gave the company an "outperform" rating in a research note on Friday, September 18th. Piper Sandler restated an "overweight" rating and issued a $48.00 price target on shares of Oscar Health in a report on Thursday, September 17th. Wells Fargo & Company upped their price objective on shares of Oscar Health from $20.00 to $27.00 and gave the company an "equal weight" rating in a research note on Thursday, August 13th. The Goldman Sachs Group reiterated a "neutral" rating and set a $34.00 price objective on shares of Oscar Health in a report on Thursday, September 17th. Finally, Wall Street Zen raised shares of Oscar Health from a "buy" rating to a "strong-buy" rating in a research report on Sunday, June 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $33.90.

Oscar Health Stock Performance

Oscar Health stock opened at $32.27 on Wednesday. The stock's 50-day moving average is $30.93 and its 200-day moving average is $25.52. The company has a market cap of $9.96 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.36 and a beta of 2.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. Oscar Health, Inc. has a 12 month low of $10.69 and a 12 month high of $34.48.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The business's quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.89) earnings per share. Equities analysts anticipate that Oscar Health, Inc. will post 1.83 earnings per share for the current year.

About Oscar Health

Oscar Health, Inc is a technology-driven health insurance company that provides health plans and related services to individuals, families and businesses in the United States. The company primarily serves members through plans offered under the Affordable Care Act (ACA), including individual and family coverage purchased through government marketplaces.

Oscar's offerings include medical insurance plans with access to provider networks, prescription drug coverage and member support services.

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