Oscar Health, Inc. (NYSE:OSCR) Short Interest Down 30.3% in September

Key Points

• Oscar Health, Inc. (NYSE:OSCR) experienced a significant decrease in short interest of 30.3% in September, with the total short interest dropping to 34,580,000 shares.
• Insider Mario Schlosser sold 395,000 shares at an average price of $18.43, representing a 44.08% decrease in their ownership.
• Brokerages have recently downgraded Oscar Health's stock, with an average rating of "Strong Sell" and a consensus price target of $12.07.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 34,580,000 shares, a decrease of 30.3% from the August 31st total of 49,620,000 shares. Approximately 18.3% of the shares of the company are sold short. Based on an average trading volume of 25,530,000 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 25,530,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 18.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, insider Mario Schlosser sold 395,000 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $18.43, for a total transaction of $7,279,850.00. Following the transaction, the insider directly owned 501,148 shares of the company's stock, valued at approximately $9,236,157.64. This trade represents a 44.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

Institutional investors have recently made changes to their positions in the business. LRI Investments LLC boosted its stake in shares of Oscar Health by 377.9% in the 2nd quarter. LRI Investments LLC now owns 1,233 shares of the company's stock valued at $26,000 after purchasing an additional 975 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Oscar Health in the 2nd quarter valued at $33,000. Jones Financial Companies Lllp boosted its position in Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after buying an additional 2,242 shares during the period. Strs Ohio purchased a new stake in Oscar Health during the 1st quarter valued at $30,000. Finally, Larson Financial Group LLC boosted its position in Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock valued at $33,000 after buying an additional 2,512 shares during the period. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Stock Performance

Shares of NYSE OSCR traded down $0.04 during midday trading on Monday, hitting $21.62. The company's stock had a trading volume of 5,939,446 shares, compared to its average volume of 14,115,407. The stock has a fifty day moving average price of $17.05 and a 200 day moving average price of $15.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -26.69 and a beta of 1.89. Oscar Health has a one year low of $11.20 and a one year high of $22.78.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share for the quarter, topping analysts' consensus estimates of ($0.90) by $0.01. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. Oscar Health's revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. On average, research analysts forecast that Oscar Health will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OSCR. Barclays cut their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler cut their price target on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Wells Fargo & Company lowered shares of Oscar Health from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $16.00 to $10.00 in a report on Friday, July 11th. Robert W. Baird reiterated a "neutral" rating and set a $14.00 price target (down previously from $28.00) on shares of Oscar Health in a report on Friday, July 25th. Finally, Raymond James Financial lowered shares of Oscar Health from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. Four research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Oscar Health presently has an average rating of "Strong Sell" and a consensus price target of $12.07.

Oscar Health Company Profile

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.

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