Fred Alger Management LLC Sells 66,669 Shares of Oscar Health, Inc. (NYSE:OSCR)

Fred Alger Management LLC decreased its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 20.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 253,884 shares of the company’s stock after selling 66,669 shares during the period. Fred Alger Management LLC’s holdings in Oscar Health were worth $4,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. American International Group Inc. boosted its holdings in shares of Oscar Health by 1.3% in the 1st quarter. American International Group Inc. now owns 79,411 shares of the company’s stock valued at $1,181,000 after purchasing an additional 1,009 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Oscar Health by 5.4% in the second quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after buying an additional 1,065 shares in the last quarter. Arizona State Retirement System grew its position in Oscar Health by 3.7% in the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock valued at $602,000 after acquiring an additional 1,351 shares during the last quarter. Amalgamated Bank raised its stake in 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 acquiring an additional 1,458 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Oscar Health by 10.9% in the first quarter. ProShare Advisors LLC now owns 28,950 shares of the company’s stock worth $430,000 after acquiring an additional 2,842 shares during the last quarter. 75.70% of the stock is owned by institutional investors.

Insider Activity at Oscar Health

In other Oscar Health news, insider Mario Schlosser sold 3,198 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $57,532.02. Following the completion of the sale, the insider now directly owns 76,982 shares in the company, valued at approximately $1,384,906.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Oscar Health news, insider Mario Schlosser sold 3,198 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $57,532.02. Following the transaction, the insider now directly owns 76,982 shares in the company, valued at approximately $1,384,906.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ranmali Bopitiya sold 36,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $650,788.25. Following the sale, the executive vice president now directly owns 251,885 shares of the company’s stock, valued at approximately $4,531,411.15. The disclosure for this sale can be found here. Insiders have sold a total of 169,569 shares of company stock worth $3,007,069 over the last quarter. Company insiders own 25.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OSCR. Piper Sandler reiterated an “overweight” rating and set a $28.00 price objective on shares of Oscar Health in a research report on Tuesday, September 10th. Bank of America reissued a “neutral” rating and set a $21.00 price objective (down previously from $25.00) on shares of Oscar Health in a report on Thursday, May 30th. Wells Fargo & Company upped their target price on Oscar Health from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. Baird R W upgraded Oscar Health to a “strong-buy” rating in a research report on Thursday, May 30th. Finally, Robert W. Baird initiated coverage on Oscar Health in a report on Thursday, May 30th. They set an “outperform” rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Oscar Health Price Performance

Shares of OSCR opened at $20.48 on Friday. The business has a 50-day moving average of $18.37 and a 200-day moving average of $17.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of -51.20, a price-to-earnings-growth ratio of 44.24 and a beta of 1.61. Oscar Health, Inc. has a 1 year low of $4.72 and a 1 year high of $23.79.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. Oscar Health had a net margin of 0.25% and a return on equity of 1.86%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned ($0.07) EPS. The company’s revenue was up 44.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Oscar Health, Inc. will post 0.01 earnings per share for the current 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.