Hennessy Advisors Inc. Has $61.57 Million Stock Position in Oscar Health, Inc. $OSCR

Hennessy Advisors Inc. trimmed its holdings in Oscar Health, Inc. (NYSE:OSCR) by 24.6% in the 2nd quarter, Holdings Channel reports. The fund owned 2,871,700 shares of the company’s stock after selling 934,500 shares during the quarter. Oscar Health accounts for about 2.1% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 4th biggest position. Hennessy Advisors Inc.’s holdings in Oscar Health were worth $61,569,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC raised its position in shares of Oscar Health by 2.7% in the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company’s stock worth $313,000 after purchasing an additional 632 shares during the last quarter. Tempus Wealth Planning LLC raised its position in shares of Oscar Health by 6.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company’s stock worth $189,000 after purchasing an additional 906 shares during the last quarter. Focus Partners Wealth raised its position in shares of Oscar Health by 1.8% in the 1st quarter. Focus Partners Wealth now owns 55,158 shares of the company’s stock worth $723,000 after purchasing an additional 949 shares during the last quarter. Xponance Inc. raised its position in shares of Oscar Health by 7.1% in the 1st quarter. Xponance Inc. now owns 15,423 shares of the company’s stock worth $202,000 after purchasing an additional 1,029 shares during the last quarter. Finally, CWM LLC raised its position in shares of Oscar Health by 50.7% in the 1st quarter. CWM LLC now owns 3,204 shares of the company’s stock worth $42,000 after purchasing an additional 1,078 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on OSCR shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oscar Health in a research report on Saturday, September 27th. Baird R W downgraded Oscar Health from a “strong-buy” rating to a “hold” rating in a report on Friday, July 25th. Barclays reduced their price objective on Oscar Health from $17.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company downgraded Oscar Health from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $16.00 to $10.00 in a report on Friday, July 11th. Finally, Wall Street Zen downgraded Oscar Health from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Four analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus price target of $12.07.

Insider Activity

In other Oscar Health news, insider Mario Schlosser sold 395,000 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $18.43, for a total transaction of $7,279,850.00. Following the completion of the sale, the insider directly owned 501,148 shares in the company, valued at $9,236,157.64. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 24.39% of the stock is currently owned by corporate insiders.

Oscar Health Price Performance

NYSE OSCR opened at $21.67 on Friday. The stock has a 50-day moving average of $17.05 and a 200 day moving average of $15.58. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of -26.75 and a beta of 1.89. Oscar Health, Inc. has a one year low of $11.20 and a one year high of $22.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.86 and a current ratio of 0.86.

Oscar Health (NYSE:OSCR) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.01. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. Oscar Health had a negative return on equity of 13.78% and a negative net margin of 1.50%.The business’s quarterly revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. On average, sell-side analysts forecast that Oscar Health, Inc. will post 0.69 EPS for the current year.

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.