Verition Fund Management LLC Buys New Stake in Oscar Health, Inc. (NYSE:OSCR)

Verition Fund Management LLC bought a new position in shares of Oscar Health, Inc. (NYSE:OSCR - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 171,755 shares of the company's stock, valued at approximately $3,643,000. Verition Fund Management LLC owned 0.07% of Oscar Health at the end of the most recent quarter.

Several other large investors also recently modified their holdings of OSCR. Simplicity Wealth LLC bought a new stake in Oscar Health in the second quarter valued at $179,000. SG Americas Securities LLC increased its position in shares of Oscar Health by 900.6% during the second quarter. SG Americas Securities LLC now owns 190,039 shares of the company's stock valued at $3,006,000 after buying an additional 171,047 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Oscar Health by 32.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,046,046 shares of the company's stock valued at $32,368,000 after buying an additional 507,009 shares during the period. Raymond James & Associates purchased a new stake in Oscar Health in the second quarter worth about $3,168,000. Finally, Hennessy Advisors Inc. bought a new stake in Oscar Health during the 2nd quarter valued at approximately $9,047,000. 75.70% of the stock is owned by institutional investors.

Oscar Health Stock Performance

OSCR traded down $1.03 during mid-day trading on Wednesday, reaching $16.96. 4,500,286 shares of the company traded hands, compared to its average volume of 3,437,271. The stock has a market capitalization of $4.19 billion, a P/E ratio of -282.95 and a beta of 1.63. Oscar Health, Inc. has a 52-week low of $7.50 and a 52-week high of $23.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The company's fifty day moving average price is $17.18 and its 200-day moving average price is $17.94.

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Oscar Health

In other news, COO Steven Wolin sold 19,580 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $18.08, for a total value of $354,006.40. Following the transaction, the chief operating officer now owns 102,598 shares of the company's stock, valued at approximately $1,854,971.84. The trade was a 16.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alessandrea C. Quane sold 16,793 shares of the business's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the sale, the executive vice president now owns 392,607 shares in the company, valued at approximately $6,697,875.42. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 150,360 shares valued at $2,645,074. 25.11% of the stock is owned by corporate insiders.

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.