Evolent Health, Inc. (NYSE:EVH) Shares Sold by Shay Capital LLC

Shay Capital LLC reduced its position in shares of Evolent Health, Inc. (NYSE:EVH) by 38.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 260,000 shares of the technology company’s stock after selling 165,100 shares during the period. Shay Capital LLC’s holdings in Evolent Health were worth $2,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cadian Capital Management LP purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $58,781,000. Engaged Capital LLC raised its holdings in Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after acquiring an additional 1,415,300 shares during the last quarter. Boston Partners raised 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 valued at $27,097,000 after acquiring an additional 1,171,304 shares during the last quarter. Norges Bank purchased a new position in shares of Evolent Health during the 4th quarter worth $12,519,000. Finally, Millennium Management LLC boosted its holdings in shares of Evolent Health by 134.7% during the fourth quarter. Millennium Management LLC now owns 1,255,446 shares of the technology company’s stock worth $14,124,000 after purchasing an additional 720,625 shares during the last quarter.

Insider Transactions at Evolent Health

In related news, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. The trade was a 73.08% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Diane Holder purchased 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.33 per share, with a total value of $25,517.55. Following the acquisition, the director now owns 70,584 shares in the company, 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 purchased 74,000 shares of company stock valued at $666,315 over the last quarter. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

EVH has been the subject of several analyst reports. Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Oppenheimer lowered their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. JMP Securities reiterated a “market outperform” rating and set a $13.00 price objective on shares of Evolent Health in a report on Monday, April 28th. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Stephens dropped their price target on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Price Performance

EVH opened at $8.83 on Friday. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a 50 day moving average of $9.61 and a two-hundred day moving average of $11.24. The company has a market cap of $1.03 billion, a P/E ratio of -10.77 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $483.65 million for the quarter, compared to analysts’ expectations of $460.15 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. On average, analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Evolent Health 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.