Allspring Global Investments Holdings LLC Takes Position in Oscar Health, Inc. (NYSE:OSCR)

Allspring Global Investments Holdings LLC bought a new position in Oscar Health, Inc. (NYSE:OSCR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 276,873 shares of the company’s stock, valued at approximately $4,117,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OSCR. Charles Schwab Investment Management Inc. boosted its holdings in Oscar Health by 19.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,125,355 shares of the company’s stock valued at $6,268,000 after acquiring an additional 182,206 shares during the period. Federated Hermes Inc. increased its stake in shares of Oscar Health by 19,729.0% in the third quarter. Federated Hermes Inc. now owns 290,099 shares of the company’s stock worth $1,616,000 after buying an additional 288,636 shares during the period. Trexquant Investment LP raised its holdings in Oscar Health by 89.1% during the 3rd quarter. Trexquant Investment LP now owns 312,870 shares of the company’s stock valued at $1,743,000 after buying an additional 147,457 shares during the last quarter. Fred Alger Management LLC boosted its position in Oscar Health by 9.6% during the 3rd quarter. Fred Alger Management LLC now owns 167,632 shares of the company’s stock valued at $934,000 after buying an additional 14,699 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Oscar Health in the third quarter valued at about $894,000. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Oscar Health Price Performance

Oscar Health stock traded up $0.15 during mid-day trading on Tuesday, reaching $16.02. 222,827 shares of the stock traded hands, compared to its average volume of 3,388,507. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average is $19.49 and its 200-day moving average is $15.48. Oscar Health, Inc. has a 12-month low of $4.72 and a 12-month high of $23.44.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.34. Oscar Health had a negative net margin of 0.82% and a negative return on equity of 5.77%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm earned ($0.18) earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis. Equities research analysts anticipate that Oscar Health, Inc. will post -0.05 earnings per share for the current year.

Analyst Ratings Changes

OSCR has been the subject of a number of recent analyst reports. Raymond James initiated coverage on Oscar Health in a report on Friday, March 22nd. They set an “outperform” rating and a $20.00 target price for the company. Baird R W upgraded shares of Oscar Health to a “strong-buy” rating in a research report on Thursday, May 30th. Bank of America reaffirmed a “neutral” rating and set a $21.00 price objective (down from $25.00) on shares of Oscar Health in a research report on Thursday, May 30th. Wells Fargo & Company increased their target price on Oscar Health from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird started coverage on shares of Oscar Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $28.00 price objective on the stock. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Insider Activity

In other news, insider Mario Schlosser sold 5,808 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.46, for a total value of $113,023.68. Following the completion of the sale, the insider now directly owns 65,920 shares of the company’s stock, valued at $1,282,803.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Mario Schlosser sold 5,808 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.46, for a total transaction of $113,023.68. Following the completion of the transaction, the insider now directly owns 65,920 shares of the company’s stock, valued at $1,282,803.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alessandrea C. Quane sold 25,550 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $19.46, for a total value of $497,203.00. Following the completion of the sale, the executive vice president now owns 237,347 shares in the company, valued at $4,618,772.62. The disclosure for this sale can be found here. Insiders have sold a total of 81,655 shares of company stock valued at $1,589,006 in the last ninety days. Corporate insiders own 25.11% of the company’s stock.

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.