Man Group plc Purchases 1,405,554 Shares of Oscar Health, Inc. (NYSE:OSCR)

Man Group plc lifted its position in shares of Oscar Health, Inc. (NYSE:OSCR) by 344.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,813,216 shares of the company’s stock after buying an additional 1,405,554 shares during the quarter. Man Group plc’s holdings in Oscar Health were worth $24,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in Oscar Health by 171.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,627 shares of the company’s stock valued at $89,000 after acquiring an additional 4,185 shares during the last quarter. KBC Group NV boosted its holdings in Oscar Health by 56.1% in the fourth quarter. KBC Group NV now owns 7,107 shares of the company’s stock valued at $96,000 after acquiring an additional 2,555 shares during the last quarter. Alberta Investment Management Corp bought a new stake in Oscar Health in the fourth quarter valued at approximately $138,000. Virtu Financial LLC bought a new stake in Oscar Health in the fourth quarter valued at approximately $140,000. Finally, Potentia Wealth bought a new stake in Oscar Health in the fourth quarter valued at approximately $141,000. 75.70% of the stock is currently owned by institutional investors.

Oscar Health Price Performance

Oscar Health stock opened at $16.56 on Friday. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of -827.59 and a beta of 1.75. Oscar Health, Inc. has a 52-week low of $11.20 and a 52-week high of $23.79. The stock’s 50 day moving average price is $13.40 and its two-hundred day moving average price is $14.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.09. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Oscar Health had a return on equity of 2.28% and a net margin of 0.28%. The company’s revenue for the quarter was up 42.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts predict that Oscar Health, Inc. will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total transaction of $410,750.00. Following the transaction, the director now directly owns 64,512 shares of the company’s stock, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 24.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company cut Oscar Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $20.00 to $16.00 in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.08.

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.