Kornitzer Capital Management Inc. KS Takes Position in Evolent Health, Inc $EVH

Kornitzer Capital Management Inc. KS purchased a new position in shares of Evolent Health, Inc (NYSE:EVH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,600 shares of the technology company’s stock, valued at approximately $1,133,000. Kornitzer Capital Management Inc. KS owned about 0.09% of Evolent Health as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Values First Advisors Inc. boosted its stake in Evolent Health by 18.6% during the 2nd quarter. Values First Advisors Inc. now owns 55,090 shares of the technology company’s stock valued at $620,000 after purchasing an additional 8,646 shares during the period. Nordea Investment Management AB raised its holdings in shares of Evolent Health by 3.3% during the second quarter. Nordea Investment Management AB now owns 130,103 shares of the technology company’s stock valued at $1,462,000 after buying an additional 4,101 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evolent Health during the second quarter worth approximately $198,000. HighMark Wealth Management LLC grew its holdings in Evolent Health by 55.8% in the 2nd quarter. HighMark Wealth Management LLC now owns 50,275 shares of the technology company’s stock worth $566,000 after buying an additional 18,000 shares in the last quarter. Finally, Signaturefd LLC increased its position in Evolent Health by 58.6% in the 2nd quarter. Signaturefd LLC now owns 11,169 shares of the technology company’s stock valued at $126,000 after acquiring an additional 4,126 shares during the period.

Analyst Ratings Changes

A number of brokerages have issued reports on EVH. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a research report on Saturday. Zacks Research downgraded shares of Evolent Health from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 target price on shares of Evolent Health in a research report on Tuesday, September 9th. Truist Financial boosted their price target on shares of Evolent Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $20.00 price objective on shares of Evolent Health in a report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.85.

Evolent Health Stock Performance

NYSE:EVH opened at $7.82 on Monday. The company has a 50-day moving average of $8.71 and a 200-day moving average of $9.24. The firm has a market cap of $918.34 million, a price-to-earnings ratio of -4.85 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. Evolent Health, Inc has a twelve month low of $7.06 and a twelve month high of $25.22.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. The business had revenue of $427.70 million during the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. Analysts forecast that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

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.