SG Americas Securities LLC Cuts Holdings in Oscar Health, Inc. $OSCR

Key Points

• SG Americas Securities LLC reduced its Oscar Health stake by 13.1% in the first quarter, selling 120,304 shares and leaving it with 800,984 shares valued at about $9.2 million.
• Oscar Health’s latest earnings beat estimates, with EPS of $2.07 versus the $1.11 consensus, while revenue rose 52.6% year over year to $4.65 billion. However, revenue still came in below Wall Street’s $4.90 billion forecast.
• Analyst sentiment remains cautious overall: the stock has a consensus rating of “Hold” with a consensus price target of $20.78, even after a mix of upgrades and target price increases from several brokerages.

SG Americas Securities LLC lowered its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 800,984 shares of the company's stock after selling 120,304 shares during the quarter. SG Americas Securities LLC owned 0.27% of Oscar Health worth $9,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Oscar Health by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company's stock worth $297,477,000 after acquiring an additional 540,851 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Oscar Health by 11.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company's stock worth $132,461,000 after purchasing an additional 910,320 shares during the period. Morgan Stanley increased its position in Oscar Health by 42.8% during the 4th quarter. Morgan Stanley now owns 6,814,046 shares of the company's stock worth $97,918,000 after purchasing an additional 2,043,758 shares in the last quarter. Thrive Capital Management LLC increased 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 purchasing an additional 1,588,395 shares in the last quarter. Finally, BIT Capital GmbH raised its holdings in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after buying an additional 5,227,152 shares during the period. Hedge funds and other institutional investors own 75.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on OSCR. Zacks Research cut shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Robert W. Baird raised their target price on shares of Oscar Health from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Oscar Health from a "buy" rating to a "strong-buy" rating in a report on Sunday, June 14th. Jefferies Financial Group raised shares of Oscar Health from an "underperform" rating to a "hold" rating and upped their price target for the stock from $10.00 to $16.00 in a research report on Monday, April 20th. Finally, Wolfe Research began coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They set a "peer perform" rating for the company. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.78.

Insider Buying and Selling at Oscar Health

In related news, insider Adam Mcananey sold 9,859 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider directly owned 218,096 shares of the company's stock, valued at approximately $4,785,026.24. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, CAO Victoria Baltrus sold 1,523 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $33,414.62. Following the completion of the transaction, the chief accounting officer directly owned 214,589 shares of the company's stock, valued at approximately $4,708,082.66. The trade was a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 1,217,160 shares of company stock worth $34,471,090. 24.39% of the stock is currently owned by insiders.

Oscar Health Stock Performance

Oscar Health stock opened at $29.77 on Friday. The firm has a market capitalization of $8.97 billion, a PE ratio of -50.45, a price-to-earnings-growth ratio of 2.08 and a beta of 2.37. Oscar Health, Inc. has a one year low of $10.69 and a one year high of $30.38. The stock's 50 day moving average price is $23.03 and its 200 day moving average price is $17.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $0.92 earnings per share. Oscar Health's revenue for the quarter was up 52.6% on a year-over-year basis. As a group, sell-side analysts expect that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Oscar Health Profile

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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