Insider Selling: Oscar Health (NYSE:OSCR) CFO Sells 31,683 Shares of Stock

Key Points

• Oscar Health CFO Richard Scott Blackley sold 31,683 shares on June 2 at an average price of $21.94, totaling about $695,125. The sale was part of a pre-arranged Rule 10b5-1 plan and was done to cover tax withholding tied to equity awards.
• This was not his only recent sale; Blackley also sold 100,000 shares on May 14 for about $2.32 million. After the latest transaction, he still directly owned 1,074,977 shares.
• Oscar Health’s stock has been volatile but recently gained ground, trading at $23.54 in Thursday’s session and near its 52-week high of $25.58. The company also beat first-quarter EPS estimates, though revenue came in below expectations, and analysts currently rate the stock a consensus Hold.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) CFO Richard Scott Blackley sold 31,683 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $695,125.02. Following the completion of the transaction, the chief financial officer directly owned 1,074,977 shares in the company, valued at $23,584,995.38. This trade represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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.

Richard Scott Blackley also recently made the following trade(s):

• On Thursday, May 14th, Richard Scott Blackley sold 100,000 shares of Oscar Health stock. The stock was sold at an average price of $23.16, for a total transaction of $2,316,000.00.

Oscar Health Stock Performance

Shares of NYSE:OSCR traded up $3.04 during midday trading on Thursday, reaching $23.54. The company had a trading volume of 10,532,228 shares, compared to its average volume of 7,845,401. The company's 50 day moving average price is $17.92 and its 200 day moving average price is $15.93. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.10 billion, a P/E ratio of -39.90, a P/E/G ratio of 1.48 and a beta of 2.37. Oscar Health, Inc. has a 52-week low of $10.69 and a 52-week high of $25.58.

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

Institutional Investors Weigh In On Oscar Health

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP increased its position in shares of Oscar Health by 439.8% during the third quarter. Quarry LP now owns 1,803 shares of the company's stock valued at $34,000 after buying an additional 1,469 shares during the period. Tsfg LLC bought a new stake in Oscar Health during the 3rd quarter worth approximately $38,000. Jones Financial Companies Lllp lifted its stake in Oscar Health by 7,473.3% in the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after purchasing an additional 2,242 shares in the last quarter. Strs Ohio purchased a new stake in Oscar Health in the 1st quarter worth approximately $30,000. Finally, Fifth Third Bancorp lifted its stake in Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after purchasing an additional 1,413 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OSCR has been the topic of several recent research reports. Wall Street Zen raised shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oscar Health in a report on Tuesday, April 21st. Zacks Research raised shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Oscar Health from an "underperform" rating to a "hold" rating and upped their price objective for the company from $10.00 to $16.00 in a report on Monday, April 20th. Finally, Barclays upped their price objective on shares of Oscar Health from $21.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.22.

Oscar Health Company 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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