Kingsview Wealth Management LLC Invests $446,000 in Oscar Health, Inc. (NYSE:OSCR)

Kingsview Wealth Management LLC bought a new position in shares of Oscar Health, Inc. (NYSE:OSCR) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 21,043 shares of the company’s stock, valued at approximately $446,000.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Oscar Health by 20.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,600,166 shares of the company’s stock worth $33,940,000 after acquiring an additional 270,223 shares during the period. Intech Investment Management LLC purchased a new position in shares of Oscar Health during the third quarter worth approximately $1,282,000. Swiss National Bank increased its holdings in Oscar Health by 17.8% during the third quarter. Swiss National Bank now owns 314,900 shares of the company’s stock valued at $6,679,000 after buying an additional 47,500 shares during the period. KBC Group NV increased its holdings in 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 buying an additional 1,328 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Oscar Health by 175.3% during the third quarter. Oppenheimer & Co. Inc. now owns 70,806 shares of the company’s stock valued at $1,502,000 after buying an additional 45,088 shares during the period. 75.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OSCR has been the topic of several research reports. Bank of America lowered shares of Oscar Health from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $21.00 to $13.50 in a report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and set a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. Finally, UBS Group initiated coverage on shares of Oscar Health in a report on Monday, October 7th. They set a “neutral” rating and a $23.00 price objective on the stock. One 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.93.

Insider Transactions at Oscar Health

In related news, Director Thrive Partners Vii Growth Gp, acquired 420,819 shares of the stock in a transaction dated Tuesday, November 12th. The stock was acquired at an average cost of $13.68 per share, for a total transaction of $5,756,803.92. Following the completion of the purchase, the director now owns 5,452,081 shares of the company’s stock, valued at approximately $74,584,468.08. This represents a 8.36 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Blackley sold 68,978 shares of Oscar Health stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the sale, the chief financial officer now owns 884,213 shares of the company’s stock, valued at $15,906,991.87. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,055,478 shares of company stock worth $14,432,852 and sold 194,569 shares worth $3,433,319. Insiders own 25.11% of the company’s stock.

Oscar Health Price Performance

Shares of OSCR opened at $16.83 on Friday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of -280.50 and a beta of 1.67. Oscar Health, Inc. has a twelve month low of $7.29 and a twelve month high of $23.79. 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 company has a 50 day moving average of $17.57 and a two-hundred day moving average of $18.10.

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

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.