Oscar Health (NYSE:OSCR) Shares Gap Down Following Insider Selling

Oscar Health, Inc. (NYSE:OSCR) gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $8.28, but opened at $8.00. Oscar Health shares last traded at $7.97, with a volume of 430,315 shares traded.

Specifically, insider Mario Schlosser sold 390,405 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $7.12, for a total value of $2,779,683.60. Following the completion of the transaction, the insider now directly owns 57,317 shares in the company, valued at $408,097.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Oscar Health news, insider Mario Schlosser sold 390,405 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $7.12, for a total value of $2,779,683.60. Following the transaction, the insider now owns 57,317 shares in the company, valued at approximately $408,097.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Blackley sold 22,289 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $6.25, for a total value of $139,306.25. Following the sale, the chief financial officer now owns 460,280 shares of the company’s stock, valued at $2,876,750. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 578,691 shares of company stock valued at $3,956,471. Corporate insiders own 25.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on OSCR shares. Credit Suisse Group raised their price target on shares of Oscar Health from $7.00 to $8.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Morgan Stanley boosted their target price on shares of Oscar Health from $5.00 to $7.50 and gave the stock an “equal weight” rating in a research report on Wednesday, August 30th. The Goldman Sachs Group boosted their price objective on Oscar Health from $5.50 to $7.50 and gave the company a “neutral” rating in a report on Thursday, August 10th. Finally, Bank of America upgraded Oscar Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $9.00 in a research report on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Oscar Health presently has an average rating of “Hold” and an average price target of $7.70.

Oscar Health Stock Performance

The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -5.21 and a beta of 1.10. The stock has a 50 day simple moving average of $5.80 and a 200 day simple moving average of $6.96. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.18. Oscar Health had a negative return on equity of 37.51% and a negative net margin of 6.39%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm posted ($0.91) EPS. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, analysts anticipate that Oscar Health, Inc. will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

Several institutional investors have recently modified their holdings of OSCR. Covestor Ltd raised its holdings in shares of Oscar Health by 310.0% during the second quarter. Covestor Ltd now owns 3,329 shares of the company’s stock valued at $27,000 after buying an additional 2,517 shares during the last quarter. Dark Forest Capital Management LP increased its holdings in shares of Oscar Health by 5,243.2% during the first quarter. Dark Forest Capital Management LP now owns 7,801 shares of the company’s stock valued at $51,000 after purchasing an additional 7,655 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Oscar Health by 63.9% during the second quarter. Metropolitan Life Insurance Co NY now owns 8,520 shares of the company’s stock valued at $69,000 after purchasing an additional 3,323 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Oscar Health by 157.5% in the first quarter. Advisor Group Holdings Inc. now owns 10,106 shares of the company’s stock worth $101,000 after purchasing an additional 6,182 shares during the period. Finally, Royal Bank of Canada raised its position in shares of Oscar Health by 959.5% during the 3rd quarter. Royal Bank of Canada now owns 10,129 shares of the company’s stock worth $50,000 after buying an additional 9,173 shares in the last quarter. Institutional investors own 66.70% of the company’s stock.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers Individual and Small Group, and Medicare Advantage plans, as well as +Oscar, a technology driven platform designed to help providers and payors directly enable their shift to value-based care It also provides reinsurance products.