Penserra Capital Management LLC Invests $2.25 Million in Oscar Health, Inc. (NYSE:OSCR)

Penserra Capital Management LLC acquired a new stake in Oscar Health, Inc. (NYSE:OSCR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 106,193 shares of the company’s stock, valued at approximately $2,252,000.

Other hedge funds also recently added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after acquiring an additional 1,328 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Oscar Health during the 2nd quarter worth approximately $78,000. Quest Partners LLC acquired a new stake in Oscar Health in the 2nd quarter valued at approximately $93,000. Optimum Investment Advisors purchased a new stake in Oscar Health in the third quarter valued at approximately $142,000. Finally, Amalgamated Bank lifted 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 purchasing an additional 1,458 shares in the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Bank of America cut Oscar Health from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $21.00 to $13.50 in a research note on Wednesday, November 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 target price on shares of Oscar Health in a research report on Tuesday, September 10th. Finally, UBS Group began coverage on shares of Oscar Health in a research report on Monday, October 7th. They set a “neutral” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.93.

Oscar Health Stock Up 5.5 %

Shares of NYSE:OSCR opened at $16.86 on Tuesday. Oscar Health, Inc. has a fifty-two week low of $7.29 and a fifty-two week high of $23.79. The firm’s 50 day moving average price is $17.80 and its 200 day moving average price is $18.15. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of -280.95 and a beta of 1.67.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Oscar Health had a return on equity of 2.79% and a net margin of 0.35%. Oscar Health’s revenue for the quarter was up 68.3% on a year-over-year basis. During the same period last year, the firm posted ($0.29) earnings per share. As a group, equities research analysts predict that Oscar Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Insider Transactions at Oscar Health

In related news, EVP Alessandrea C. Quane sold 16,793 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $17.06, for a total value of $286,488.58. Following the completion of the sale, the executive vice president now directly owns 392,607 shares of the company’s stock, valued at $6,697,875.42. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Joshua Kushner acquired 276,040 shares of the company’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $13.58 per share, for a total transaction of $3,748,623.20. Following the acquisition, the insider now owns 5,031,262 shares of the company’s stock, valued at approximately $68,324,537.96. The trade was a 5.80 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,055,478 shares of company stock valued at $14,432,852 and sold 194,569 shares valued at $3,433,319. Insiders own 25.11% of the company’s stock.

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.