Seven Eight Capital LP Trims Holdings in Oscar Health, Inc. (NYSE:OSCR)

Seven Eight Capital LP lowered its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 41.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,897 shares of the company’s stock after selling 74,876 shares during the quarter. Seven Eight Capital LP’s holdings in Oscar Health were worth $1,675,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OSCR. Avalon Trust Co bought a new stake in shares of Oscar Health during the 1st quarter valued at $69,000. Prevail Innovative Wealth Advisors LLC bought a new stake in Oscar Health during the fourth quarter valued at about $92,000. Quest Partners LLC purchased a new position in shares of Oscar Health in the second quarter valued at about $93,000. Amalgamated Bank lifted its position in shares of Oscar Health by 27.7% in the second quarter. Amalgamated Bank now owns 6,727 shares of the company’s stock valued at $106,000 after acquiring an additional 1,458 shares in the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new stake in shares of Oscar Health during the fourth quarter worth about $152,000. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Stock Performance

Shares of NYSE:OSCR opened at $22.61 on Thursday. The firm has a fifty day simple moving average of $17.64 and a two-hundred day simple moving average of $17.45. Oscar Health, Inc. has a 52 week low of $4.72 and a 52 week high of $23.44. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.47 billion, a P/E ratio of -56.52, a PEG ratio of 41.60 and a beta of 1.61.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The company 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 posted ($0.07) earnings per share. The firm’s revenue was up 44.6% on a year-over-year basis. On average, analysts expect that Oscar Health, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Mario Schlosser sold 3,198 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total value of $57,532.02. Following the completion of the sale, the insider now directly owns 76,982 shares in the company, valued at $1,384,906.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Victoria Baltrus sold 4,226 shares of the company’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 $76,025.74. Following the transaction, the chief accounting officer now owns 140,648 shares of the company’s stock, valued at $2,530,257.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mario Schlosser sold 3,198 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 value of $57,532.02. Following the sale, the insider now directly owns 76,982 shares of the company’s stock, valued at $1,384,906.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on OSCR. Wells Fargo & Company boosted their price target on Oscar Health from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 12th. 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. Robert W. Baird started coverage on shares of Oscar Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $28.00 price target on the stock. Baird R W raised shares of Oscar Health to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $21.00 target price (down from $25.00) on shares of Oscar Health in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Oscar Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.17.

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.