Fred Alger Management LLC Decreases Stake in Oscar Health, Inc. (NYSE:OSCR)

Fred Alger Management LLC decreased its position in Oscar Health, Inc. (NYSE:OSCR - Free Report) by 27.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 183,828 shares of the company's stock after selling 70,056 shares during the quarter. Fred Alger Management LLC owned 0.08% of Oscar Health worth $3,899,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OSCR. Point72 Hong Kong Ltd acquired a new position in Oscar Health during the 2nd quarter worth about $78,000. Quest Partners LLC acquired a new position in Oscar Health during the 2nd quarter worth about $93,000. KBC Group NV lifted its position in Oscar Health by 41.2% during the 3rd quarter. KBC Group NV now owns 4,552 shares of the company's stock worth $97,000 after buying an additional 1,328 shares in the last quarter. Amalgamated Bank lifted its position in Oscar Health by 27.7% during the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company's stock worth $106,000 after buying an additional 1,458 shares in the last quarter. Finally, Optimum Investment Advisors acquired a new position in Oscar Health during the 3rd quarter worth about $142,000. Institutional investors own 75.70% of the company's stock.

Insider Buying and Selling

In related news, Vice Chairman Joshua Kushner purchased 276,040 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of $13.58 per share, with a total value of $3,748,623.20. Following the transaction, the insider now owns 5,031,262 shares of the company's stock, valued at $68,324,537.96. This represents a 5.80 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Victoria Baltrus sold 4,226 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $76,025.74. Following the completion of the sale, the chief accounting officer now directly owns 140,648 shares of the company's stock, valued at $2,530,257.52. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,055,478 shares of company stock worth $14,432,852 and have sold 194,569 shares worth $3,433,319. 25.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler reissued an "overweight" rating and set a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. Bank of America downgraded shares of Oscar Health from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Finally, UBS Group assumed coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a "neutral" rating and a $23.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.93.

Oscar Health Trading Up 3.0 %

OSCR stock traded up $0.50 during trading on Friday, hitting $17.33. The company had a trading volume of 1,167,094 shares, compared to its average volume of 5,480,658. The stock has a market cap of $4.29 billion, a PE ratio of -288.79 and a beta of 1.67. Oscar Health, Inc. has a one year low of $7.29 and a one year high of $23.79. The business has a 50-day moving average of $17.33 and a 200-day moving average of $17.99. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. Oscar Health's quarterly revenue was up 68.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Research analysts predict that Oscar Health, Inc. will post -0.01 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.