Point72 Asset Management L.P. Boosts Holdings in Oscar Health, Inc. (NYSE:OSCR)

Point72 Asset Management L.P. boosted its holdings in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) by 30.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,212,096 shares of the company's stock after buying an additional 281,858 shares during the quarter. Point72 Asset Management L.P. owned 0.50% of Oscar Health worth $25,709,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OSCR. Point72 Hong Kong Ltd purchased a new position in Oscar Health in the second quarter worth approximately $78,000. Quest Partners LLC acquired a new stake in shares of Oscar Health in the 2nd quarter valued at $93,000. KBC Group NV lifted its position in shares of 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 purchasing an additional 1,328 shares during the last quarter. Amalgamated Bank grew its stake in shares of Oscar Health by 27.7% during the second quarter. Amalgamated Bank now owns 6,727 shares of the company's stock worth $106,000 after purchasing an additional 1,458 shares in the last quarter. Finally, Optimum Investment Advisors purchased a new position in Oscar Health in the third quarter valued at $142,000. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Price Performance

NYSE:OSCR traded down $0.80 during mid-day trading on Friday, hitting $15.60. 5,740,323 shares of the company's stock traded hands, compared to its average volume of 3,445,361. Oscar Health, Inc. has a 1 year low of $7.50 and a 1 year high of $23.79. The company has a market cap of $3.86 billion, a PE ratio of -253.67 and a beta of 1.63. 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 firm's 50 day simple moving average is $17.00 and its 200 day simple moving average is $17.92.

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

Insiders Place Their Bets

In other news, Director Thrive Partners Vii Growth Gp, purchased 420,819 shares of the stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $13.68 per share, with a total value of $5,756,803.92. Following the completion of the transaction, the director now owns 5,452,081 shares in the company, valued at approximately $74,584,468.08. The trade was a 8.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Joshua Kushner bought 276,040 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were 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 in the company, valued at approximately $68,324,537.96. This represents a 5.80 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 1,055,478 shares of company stock valued at $14,432,852 and have sold 103,610 shares valued at $1,847,519. Corporate insiders own 25.11% of the company's stock.

Analyst Ratings Changes

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

Oscar Health 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.