Fred Alger Management LLC Sells 139,383 Shares of Oscar Health, Inc. (NYSE:OSCR)

Fred Alger Management LLC reduced its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 75.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 44,445 shares of the company's stock after selling 139,383 shares during the period. Fred Alger Management LLC's holdings in Oscar Health were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OSCR. Deutsche Bank AG boosted its position in shares of Oscar Health by 51.2% in the 4th quarter. Deutsche Bank AG now owns 172,127 shares of the company's stock worth $2,313,000 after purchasing an additional 58,282 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in shares of Oscar Health by 50.7% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after purchasing an additional 3,983,325 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Oscar Health by 17.1% in the 4th quarter. Cetera Investment Advisers now owns 27,066 shares of the company's stock worth $364,000 after purchasing an additional 3,961 shares during the last quarter. Centiva Capital LP bought a new position in shares of Oscar Health in the 4th quarter worth $306,000. Finally, Balyasny Asset Management L.P. bought a new position in shares of Oscar Health in the 4th quarter worth $1,992,000. 75.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the sale, the director now directly owns 64,512 shares in the company, valued at $1,059,932.16. The trade was a 27.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 24.39% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered Oscar Health from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $20.00 to $16.00 in a research report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.08.

Oscar Health Trading Down 3.0%

OSCR stock traded down $0.50 during midday trading on Wednesday, hitting $16.42. 11,178,422 shares of the company's stock were exchanged, compared to its average volume of 4,141,438. The stock's fifty day moving average price is $13.37 and its 200-day moving average price is $14.63. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $4.11 billion, a PE ratio of -820.59 and a beta of 1.75. Oscar Health, Inc. has a one year low of $11.20 and a one year high of $23.79.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.09. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.87 billion. Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. The company's revenue for the quarter was up 42.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Research analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current fiscal year.

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.