Tidal Investments LLC Makes New Investment in Oscar Health, Inc. $OSCR

Key Points

• Tidal Investments initiated a position in Oscar Health during the second quarter, purchasing 78,547 shares valued at approximately $2.24 million. Institutional investors collectively own 75.7% of the company.
• Oscar Health reported strong quarterly results, with adjusted earnings of $1.10 per share versus the $0.40 consensus estimate and revenue of $4.88 billion, up 70.4% year over year.
• Analysts maintain a cautious outlook, with the stock carrying an average “Hold” rating and a $26.22 average price target, below its reported opening price of $32.24. Insiders sold more than 4.3 million shares worth about $126.8 million over the past three months, primarily to cover tax obligations.

Tidal Investments LLC bought a new stake in Oscar Health, Inc. (NYSE:OSCR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,547 shares of the company's stock, valued at approximately $2,240,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BIT Capital GmbH grew its holdings in shares of 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 purchasing an additional 5,227,152 shares during the period. Geode Capital Management LLC increased its position in Oscar Health by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company's stock worth $68,964,000 after purchasing an additional 116,430 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Oscar Health by 22.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,192,777 shares of the company's stock worth $48,078,000 after purchasing an additional 759,837 shares during the period. Assenagon Asset Management S.A. raised its stake in Oscar Health by 1.6% during the second quarter. Assenagon Asset Management S.A. now owns 1,247,992 shares of the company's stock worth $35,593,000 after purchasing an additional 20,189 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new position in Oscar Health in the 2nd quarter valued at about $32,855,000. Institutional investors and hedge funds own 75.70% of the company's stock.

Insiders Place Their Bets

In related news, Director Mario Schlosser sold 31,422 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total value of $988,221.90. Following the completion of the sale, the director owned 449,444 shares in the company, valued at $14,135,013.80. This represents a 6.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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, insider Adam Mcananey sold 9,092 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $285,943.40. Following the sale, the insider owned 209,004 shares of the company's stock, valued at approximately $6,573,175.80. This represents a 4.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 three months, insiders sold 4,322,257 shares of company stock valued at $126,818,346. 22.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Piper Sandler restated an "overweight" rating and set a $36.00 price target on shares of Oscar Health in a report on Tuesday, July 28th. Robert W. Baird set a $27.00 price objective on Oscar Health in a report on Friday, August 7th. Barclays increased their price objective on Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Wall Street Zen raised Oscar Health from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 14th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $30.00 target price on shares of Oscar Health in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $26.22.

Oscar Health Trading Down 0.6%

NYSE OSCR opened at $32.24 on Thursday. The firm's fifty day moving average price is $30.70 and its 200 day moving average price is $23.83. 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. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.48 and a beta of 2.37.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. The business had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The business's quarterly revenue was up 70.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.89) EPS. On average, sell-side analysts expect that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

About Oscar Health

Oscar Health, Inc is a technology-focused health insurance company that offers health plans and related services to individuals, families and small businesses in the United States. The company's primary business is providing Individual and Family plans through the Affordable Care Act marketplaces, along with health insurance options for small-group employers in select markets.

Oscar combines insurance coverage with digital tools designed to help members manage their care. Its offerings include online and mobile enrollment, virtual care, provider search and navigation services, claims and benefits information, and access to care teams.

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