Kanen Wealth Management LLC Has $8.53 Million Holdings in The Oncology Institute, Inc. $TOI

Kanen Wealth Management LLC lessened its holdings in The Oncology Institute, Inc. (NASDAQ:TOI) by 6.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,777,858 shares of the company’s stock after selling 198,286 shares during the period. Oncology Institute comprises approximately 3.1% of Kanen Wealth Management LLC’s holdings, making the stock its 9th biggest position. Kanen Wealth Management LLC’s holdings in Oncology Institute were worth $8,528,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kestra Advisory Services LLC bought a new position in Oncology Institute in the fourth quarter worth approximately $31,000. Pekin Hardy Strauss Inc. purchased a new position in shares of Oncology Institute during the 4th quarter worth $36,000. R Squared Ltd bought a new stake in shares of Oncology Institute during the 4th quarter valued at $41,000. Prelude Capital Management LLC bought a new stake in shares of Oncology Institute during the 3rd quarter valued at $41,000. Finally, BNP Paribas Financial Markets grew its position in shares of Oncology Institute by 141.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,119 shares of the company’s stock valued at $42,000 after acquiring an additional 7,091 shares during the period. Hedge funds and other institutional investors own 36.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TOI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a report on Friday, July 17th. Needham & Company LLC boosted their price target on Oncology Institute from $5.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. BTIG Research upped their price target on Oncology Institute from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Lake Street Capital started coverage on Oncology Institute in a research note on Monday, July 6th. They issued a “buy” rating and a $10.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.50.

Insiders Place Their Bets

In other Oncology Institute news, major shareholder Jorey Chernett purchased 33,500 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average cost of $4.07 per share, with a total value of $136,345.00. Following the completion of the acquisition, the insider directly owned 10,567,858 shares in the company, valued at $43,011,182.06. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Yale Podnos sold 23,451 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $5.38, for a total value of $126,166.38. Following the completion of the transaction, the insider owned 259,527 shares in the company, valued at $1,396,255.26. The trade was a 8.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have purchased 131,500 shares of company stock worth $609,265. 4.40% of the stock is owned by corporate insiders.

Oncology Institute Price Performance

Shares of NASDAQ:TOI opened at $4.95 on Wednesday. The company has a market capitalization of $489.26 million, a P/E ratio of -13.38 and a beta of 0.36. The Oncology Institute, Inc. has a 1-year low of $2.32 and a 1-year high of $6.67. The firm’s 50 day simple moving average is $5.15 and its two-hundred day simple moving average is $3.89.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.05. The firm had revenue of $147.44 million during the quarter, compared to analysts’ expectations of $142.10 million. On average, sell-side analysts anticipate that The Oncology Institute, Inc. will post -0.18 earnings per share for the current fiscal year.

Oncology Institute Profile

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.