FORA Capital LLC Buys Shares of 56,739 Evolent Health, Inc. (NYSE:EVH)

FORA Capital LLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 56,739 shares of the technology company’s stock, valued at approximately $638,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health during the fourth quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health during the fourth quarter valued at approximately $31,000. AlphaQuest LLC lifted its holdings in shares of Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after buying an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Evolent Health during the fourth quarter valued at $61,000.

Evolent Health Trading Down 16.0 %

Shares of EVH opened at $9.05 on Friday. The stock’s 50-day moving average price is $9.61 and its 200 day moving average price is $11.63. 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 firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.04 and a beta of 1.04. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $33.63.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on EVH shares. Royal Bank of Canada decreased their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. Piper Sandler reiterated an “overweight” rating and issued a $16.00 target price (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Truist Financial cut their price target on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Oppenheimer reduced their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. decreased their target price on Evolent Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. 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. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.79.

Insider Buying and Selling at Evolent Health

In other news, CEO Seth Blackley bought 55,225 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. The trade was a 7.81 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Daniel Joseph Mccarthy purchased 11,040 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares in the company, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by corporate insiders.

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.