BRC Group Holdings Inc. Cuts Holdings in The Oncology Institute, Inc. $TOI

BRC Group Holdings Inc. trimmed its stake in The Oncology Institute, Inc. (NASDAQ:TOI) by 18.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 663,376 shares of the company’s stock after selling 148,170 shares during the period. Oncology Institute accounts for about 1.0% of BRC Group Holdings Inc.’s investment portfolio, making the stock its 7th largest position. BRC Group Holdings Inc.’s holdings in Oncology Institute were worth $2,362,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Oncology Institute by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 1,570,454 shares of the company’s stock valued at $5,592,000 after acquiring an additional 168,548 shares in the last quarter. GatePass Capital LLC bought a new position in Oncology Institute in the 4th quarter worth approximately $1,282,000. Larson Financial Group LLC increased its position in Oncology Institute by 19.7% in the 4th quarter. Larson Financial Group LLC now owns 31,468 shares of the company’s stock worth $112,000 after buying an additional 5,181 shares during the period. HighTower Advisors LLC increased its position in Oncology Institute by 5.5% in the 4th quarter. HighTower Advisors LLC now owns 85,851 shares of the company’s stock worth $306,000 after buying an additional 4,489 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new position in Oncology Institute in the 4th quarter worth approximately $36,000. 36.86% of the stock is owned by institutional investors.

Oncology Institute Trading Down 0.4%

Shares of NASDAQ:TOI opened at $4.69 on Friday. The Oncology Institute, Inc. has a 1-year low of $2.02 and a 1-year high of $4.88. The firm has a market capitalization of $463.56 million, a PE ratio of -12.68 and a beta of 0.33. The business’s 50 day moving average is $3.65 and its 200-day moving average is $3.35.

Oncology Institute (NASDAQ:TOI) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The firm had revenue of $147.44 million for the quarter, compared to analyst estimates of $142.10 million. On average, sell-side analysts predict that The Oncology Institute, Inc. will post -0.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Oncology Institute in a research report on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and issued a $7.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. B. Riley Financial lifted their price target on Oncology Institute from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Oncology Institute in a research report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Oncology Institute has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Insider Activity at Oncology Institute

In other news, major shareholder Jorey Chernett acquired 33,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $4.07 per share, with a total value of $136,345.00. Following the acquisition, the insider owned 10,567,858 shares of the company’s stock, valued at $43,011,182.06. This trade represents a 0.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mohit Kaushal sold 38,433 shares of Oncology Institute stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $3.50, for a total value of $134,515.50. Following the sale, the director directly owned 172,583 shares in the company, valued at $604,040.50. The trade was a 18.21% decrease in their position. 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. Insiders have bought a total of 637,485 shares of company stock worth $2,038,896 in the last three months. 8.50% of the stock is owned by insiders.

About Oncology Institute

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.