Soros Fund Management LLC Acquires Shares of 600,000 Oscar Health, Inc. (NYSE:OSCR)

Soros Fund Management LLC bought a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the 3rd quarter, Holdings Channel reports. The firm bought 600,000 shares of the company’s stock, valued at approximately $12,726,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new stake in Oscar Health during the 2nd quarter worth about $78,000. Quest Partners LLC bought a new position in Oscar Health in the 2nd quarter worth approximately $93,000. KBC Group NV lifted its holdings 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 increased its position in Oscar Health by 27.7% in 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 during the period. Finally, Optimum Investment Advisors acquired a new position in Oscar Health during the 3rd quarter valued at about $142,000. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on OSCR shares. UBS Group started 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. Piper Sandler restated an “overweight” rating and set a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Finally, Bank of America downgraded shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their price target for the company from $21.00 to $13.50 in a research report on Wednesday, November 6th. 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 company’s stock. According to data from MarketBeat.com, Oscar Health currently has a consensus rating of “Moderate Buy” and an average target price of $22.93.

Oscar Health Stock Performance

Shares of Oscar Health stock opened at $16.40 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of -273.33 and a beta of 1.63. Oscar Health, Inc. has a one year low of $7.50 and a one year high of $23.79. The stock’s 50-day moving average is $17.08 and its 200-day moving average is $17.93.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share 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 business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned ($0.29) earnings per share. Oscar Health’s revenue was up 68.3% compared to the same quarter last year. Equities analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Oscar Health

In related news, Vice Chairman Joshua Kushner bought 358,619 shares of Oscar Health stock in a transaction that occurred on Wednesday, November 13th. The stock was acquired at an average price of $13.74 per share, with a total value of $4,927,425.06. Following the acquisition, the insider now owns 5,810,700 shares of the company’s stock, valued at approximately $79,839,018. This represents a 6.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Steven Wolin sold 19,580 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $18.08, for a total transaction of $354,006.40. Following the completion of the transaction, the chief operating officer now directly owns 102,598 shares in the company, valued at approximately $1,854,971.84. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 103,610 shares worth $1,847,519. Corporate insiders own 25.11% of the company’s stock.

Oscar Health Company 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.