Moody National Bank Trust Division Makes New $820,000 Investment in Evolent Health, Inc. (NYSE:EVH)

Moody National Bank Trust Division acquired a new position in Evolent Health, Inc. (NYSE:EVHGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,706 shares of the technology company’s stock, valued at approximately $820,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vigilant Capital Management LLC acquired a new position in Evolent Health in the first quarter worth $32,000. Nisa Investment Advisors LLC boosted its holdings in shares of Evolent Health by 67.9% during the first quarter. Nisa Investment Advisors LLC now owns 2,250 shares of the technology company’s stock valued at $73,000 after acquiring an additional 910 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Evolent Health during the fourth quarter valued at $72,000. Advisor Group Holdings Inc. boosted its holdings in shares of Evolent Health by 38.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 4,055 shares of the technology company’s stock valued at $113,000 after acquiring an additional 1,135 shares during the period. Finally, AdvisorShares Investments LLC acquired a new position in shares of Evolent Health during the first quarter valued at $192,000. Institutional investors and hedge funds own 96.81% of the company’s stock.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $37.98 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $35.28 and its two-hundred day moving average price is $31.58. Evolent Health, Inc. has a 52 week low of $21.36 and a 52 week high of $39.78. The stock has a market cap of $3.48 billion, a PE ratio of -118.69 and a beta of 1.79.

Evolent Health (NYSE:EVHGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.07. The firm had revenue of $319.94 million for the quarter, compared to analysts’ expectations of $293.31 million. Evolent Health had a negative net margin of 2.63% and a positive return on equity of 0.41%. As a group, sell-side analysts anticipate that Evolent Health, Inc. will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Jonathan Weinberg sold 14,335 shares of Evolent Health stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $34.96, for a total value of $501,151.60. Following the transaction, the general counsel now owns 135,103 shares of the company’s stock, valued at approximately $4,723,200.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Evolent Health news, Director Mary Bridget Duffy sold 7,500 shares of Evolent Health stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $33.13, for a total transaction of $248,475.00. Following the transaction, the director now owns 50,450 shares of the company’s stock, valued at approximately $1,671,408.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Jonathan Weinberg sold 14,335 shares of Evolent Health stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $34.96, for a total value of $501,151.60. Following the transaction, the general counsel now directly owns 135,103 shares in the company, valued at approximately $4,723,200.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,269 shares of company stock valued at $3,238,910. 4.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Cowen boosted their price target on shares of Evolent Health from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. Guggenheim lifted their price objective on shares of Evolent Health to $45.00 in a research note on Monday, August 15th. Piper Sandler lifted their price objective on shares of Evolent Health from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 3rd. Canaccord Genuity Group lifted their price objective on shares of Evolent Health from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Evolent Health from $37.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, August 19th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.22.

About Evolent Health

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Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

See Also

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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