Evolent Health, Inc. (NYSE:EVH) Sees Large Growth in Short Interest

Evolent Health, Inc. (NYSE:EVHGet Rating) was the recipient of a significant growth in short interest in December. As of December 30th, there was short interest totalling 7,430,000 shares, a growth of 7.2% from the December 15th total of 6,930,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is presently 6.6 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EVH shares. BTIG Research reduced their price objective on Evolent Health from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, October 12th. Truist Financial lowered their price objective on shares of Evolent Health to $32.00 in a research report on Thursday, November 17th. Canaccord Genuity Group cut their target price on shares of Evolent Health from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 12th. Cowen boosted their target price on Evolent Health from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Friday, November 18th. Finally, Canaccord Genuity Group cut their price target on Evolent Health from $48.00 to $44.00 in a research note on Thursday, November 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Insider Buying and Selling

In other news, Director Frank J. Williams sold 110,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the completion of the sale, the director now owns 626,479 shares in the company, valued at approximately $18,368,364.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Seth Blackley sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $26.79, for a total value of $2,009,250.00. Following the completion of the sale, the chief executive officer now owns 422,037 shares in the company, valued at approximately $11,306,371.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank J. Williams sold 110,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $29.32, for a total transaction of $3,225,200.00. Following the transaction, the director now owns 626,479 shares in the company, valued at $18,368,364.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 405,000 shares of company stock worth $11,333,950. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EVH. PDT Partners LLC raised its holdings in shares of Evolent Health by 78.1% in the 2nd quarter. PDT Partners LLC now owns 55,701 shares of the technology company’s stock worth $1,711,000 after buying an additional 24,424 shares in the last quarter. Eagle Asset Management Inc. raised its stake in Evolent Health by 29.6% during the second quarter. Eagle Asset Management Inc. now owns 1,244,722 shares of the technology company’s stock worth $38,225,000 after acquiring an additional 284,084 shares in the last quarter. Occudo Quantitative Strategies LP boosted its stake in shares of Evolent Health by 37.6% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 90,055 shares of the technology company’s stock valued at $2,766,000 after purchasing an additional 24,594 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Evolent Health by 6.8% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 572,306 shares of the technology company’s stock worth $20,563,000 after purchasing an additional 36,221 shares during the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in shares of Evolent Health during the 2nd quarter worth about $1,115,000. 93.33% of the stock is owned by institutional investors.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $31.19 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $3.16 billion, a PE ratio of -207.92 and a beta of 1.56. The firm has a fifty day moving average price of $27.99 and a two-hundred day moving average price of $31.60. Evolent Health has a fifty-two week low of $21.83 and a fifty-two week high of $39.78.

Evolent Health (NYSE:EVHGet Rating) last released its earnings results on Wednesday, November 2nd. The technology company reported $0.52 earnings per share for the quarter. The business had revenue of $352.59 million for the quarter, compared to the consensus estimate of $354.57 million. Evolent Health had a positive return on equity of 8.83% and a negative net margin of 1.11%. Analysts expect that Evolent Health will post 0.61 EPS for the current year.

Evolent Health Company Profile

(Get Rating)

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.

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