Insider Buying: Evolent Health (NYSE:EVH) Director Buys 10,000 Shares of Stock

Evolent Health, Inc (NYSE:EVH) Director Brendan Springstubb acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $3.82 per share, for a total transaction of $38,200.00. Following the completion of the acquisition, the director owned 58,821 shares in the company, valued at approximately $224,696.22. This trade represents a 20.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Evolent Health Trading Down 11.4%

Shares of NYSE:EVH traded down $0.46 during trading on Wednesday, reaching $3.55. 5,136,369 shares of the stock were exchanged, compared to its average volume of 2,896,118. The firm’s 50-day moving average price is $7.42 and its 200 day moving average price is $8.78. The firm has a market cap of $395.63 million, a price-to-earnings ratio of -2.20 and a beta of 0.58. Evolent Health, Inc has a 12-month low of $3.49 and a 12-month high of $13.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The firm had revenue of $427.70 million for the quarter. On average, sell-side analysts anticipate that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on EVH shares. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a report on Wednesday, October 8th. Truist Financial reduced their price objective on Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. decreased their target price on Evolent Health from $13.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday. Citizens Jmp dropped their target price on Evolent Health from $13.00 to $11.00 and set a “market outperform” rating on the stock in a report on Monday, November 10th. Finally, Zacks Research raised Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Fourteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its holdings in Evolent Health by 164.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,773,818 shares of the technology company’s stock valued at $15,006,000 after purchasing an additional 1,102,264 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Evolent Health in the 3rd quarter valued at approximately $93,000. Dark Forest Capital Management LP purchased a new position in shares of Evolent Health during the 3rd quarter valued at approximately $693,000. PharVision Advisers LLC acquired a new stake in shares of Evolent Health during the third quarter worth approximately $132,000. Finally, XTX Topco Ltd grew its position in shares of Evolent Health by 27.4% during the third quarter. XTX Topco Ltd now owns 97,956 shares of the technology company’s stock worth $829,000 after buying an additional 21,051 shares in the last quarter.

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.