Fort Baker Capital Management LP Takes Position in Evolent Health, Inc. (NYSE:EVH)

Fort Baker Capital Management LP acquired a new position in Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 269,168 shares of the technology company’s stock, valued at approximately $3,028,000. Fort Baker Capital Management LP owned 0.23% of Evolent Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVH. Vanguard Group Inc. lifted its position in Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after purchasing an additional 259,781 shares during the last quarter. Engaged Capital LLC raised its holdings in Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after buying an additional 1,415,300 shares during the last quarter. Cadian Capital Management LP purchased a new stake in Evolent Health during the 4th quarter valued at $58,781,000. Dimensional Fund Advisors LP boosted its position in Evolent Health by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company’s stock valued at $32,595,000 after buying an additional 466,225 shares during the period. Finally, Boston Partners grew its holdings in Evolent Health by 92.0% in the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company’s stock worth $27,097,000 after acquiring an additional 1,171,304 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently weighed in on EVH shares. Stephens dropped their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Piper Sandler reiterated an “overweight” rating and issued a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Royal Bank of Canada reduced their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. UBS Group raised their price target on Evolent Health from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup reduced their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.79.

Evolent Health Stock Performance

Evolent Health stock opened at $9.05 on Friday. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.04. The stock’s 50 day moving average is $9.61 and its 200 day moving average is $11.63.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was down 24.4% on a year-over-year basis. On average, equities research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the acquisition, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane Holder acquired 2,735 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now owns 70,584 shares of the company’s stock, valued at $658,548.72. This trade represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock worth $666,315 over the last quarter. 1.60% of the stock is currently owned by insiders.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.