Kornitzer Capital Management Inc. KS Invests $1.13 Million in Evolent Health, Inc $EVH

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eventide Asset Management LLC lifted its holdings in shares of Evolent Health by 33.5% in the first quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock valued at $57,555,000 after purchasing an additional 1,524,885 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after buying an additional 1,754,520 shares during the period. Northern Trust Corp lifted its stake in Evolent Health by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,203,501 shares of the technology company’s stock worth $11,397,000 after acquiring an additional 8,637 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Evolent Health by 11.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,023,077 shares of the technology company’s stock worth $9,689,000 after acquiring an additional 104,085 shares during the period. Finally, Federated Hermes Inc. grew its stake in Evolent Health by 122.9% during the 1st quarter. Federated Hermes Inc. now owns 1,015,444 shares of the technology company’s stock valued at $9,616,000 after acquiring an additional 559,837 shares in the last quarter.

Evolent Health Stock Up 4.2%

EVH stock opened at $7.82 on Monday. The firm has a market cap of $918.34 million, a PE ratio of -4.85 and a beta of 0.66. Evolent Health, Inc has a 1 year low of $7.06 and a 1 year high of $25.22. The company has a fifty day simple moving average of $8.71 and a 200 day simple moving average of $9.24. 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 (NYSE:EVH) last posted its 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. Sell-side analysts anticipate that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EVH shares. Piper Sandler increased their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. 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. BTIG Research restated a “buy” rating and set a $20.00 price target on shares of Evolent Health in a report on Tuesday, September 30th. Zacks Research downgraded shares of Evolent Health from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Stephens reissued an “equal weight” rating and set a $9.00 price objective on shares of Evolent Health in a research report on Wednesday, September 24th. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $15.85.

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.