Fred Alger Management LLC Purchases 840,038 Shares of Oscar Health, Inc. $OSCR

Fred Alger Management LLC increased its position in Oscar Health, Inc. (NYSE:OSCR) by 225.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,212,383 shares of the company’s stock after acquiring an additional 840,038 shares during the period. Fred Alger Management LLC’s holdings in Oscar Health were worth $22,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Oscar Health by 89.0% in the third quarter. American Century Companies Inc. now owns 5,298,340 shares of the company’s stock worth $100,298,000 after acquiring an additional 2,495,691 shares in the last quarter. Thrive Capital Management LLC lifted its stake in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after purchasing an additional 1,588,395 shares during the last quarter. State of Michigan Retirement System bought a new stake in Oscar Health in the third quarter worth $27,448,000. Jump Financial LLC boosted its holdings in Oscar Health by 798.3% in the second quarter. Jump Financial LLC now owns 1,441,506 shares of the company’s stock worth $30,906,000 after purchasing an additional 1,281,032 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Oscar Health by 3,796.6% during the third quarter. Marshall Wace LLP now owns 1,137,839 shares of the company’s stock worth $21,539,000 after buying an additional 1,108,638 shares during the last quarter. Institutional investors own 75.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mario Schlosser sold 23,038 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $17.65, for a total transaction of $406,620.70. Following the transaction, the insider directly owned 350,180 shares in the company, valued at $6,180,677. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 138,835 shares of company stock worth $2,298,269 over the last 90 days. 25.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler upgraded Oscar Health from a “neutral” rating to an “overweight” rating and raised their target price for the company from $13.00 to $25.00 in a report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a report on Thursday, January 22nd. Wall Street Zen raised Oscar Health from a “sell” rating to a “hold” rating in a research note on Saturday, February 14th. Barclays set a $18.00 target price on Oscar Health and gave the stock an “equal weight” rating in a report on Monday, January 5th. Finally, UBS Group reiterated a “neutral” rating and set a $15.00 price target on shares of Oscar Health in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Oscar Health has a consensus rating of “Hold” and an average price target of $16.88.

Oscar Health Price Performance

Shares of Oscar Health stock opened at $13.28 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $3.95 billion, a PE ratio of -7.63 and a beta of 1.90. The firm has a fifty day moving average price of $14.46 and a two-hundred day moving average price of $16.44. Oscar Health, Inc. has a fifty-two week low of $11.20 and a fifty-two week high of $23.80.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Tuesday, February 10th. The company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.32). The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $3.12 billion. Oscar Health had a negative return on equity of 39.35% and a negative net margin of 3.79%.The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.62) EPS. Analysts expect that Oscar Health, Inc. will post 0.69 EPS for the current year.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.