Ascent Group LLC Acquires 5,735 Shares of Evolent Health, Inc. (NYSE:EVH)

Ascent Group LLC increased its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 28.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,065 shares of the technology company’s stock after acquiring an additional 5,735 shares during the quarter. Ascent Group LLC’s holdings in Evolent Health were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EVH. Principal Financial Group Inc. lifted its holdings in Evolent Health by 10.4% during the fourth quarter. Principal Financial Group Inc. now owns 12,716 shares of the technology company’s stock worth $420,000 after acquiring an additional 1,202 shares during the period. Hsbc Holdings PLC lifted its holdings in Evolent Health by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 107,155 shares of the technology company’s stock worth $3,544,000 after acquiring an additional 11,372 shares during the period. Point72 Asset Management L.P. lifted its holdings in Evolent Health by 81.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after acquiring an additional 1,199,400 shares during the period. First Light Asset Management LLC bought a new stake in Evolent Health during the fourth quarter worth $2,699,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Evolent Health in the fourth quarter valued at $228,000.

Insider Buying and Selling

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the transaction, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the completion of the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Evolent Health Price Performance

Evolent Health stock opened at $27.06 on Wednesday. Evolent Health, Inc. has a 52 week low of $17.98 and a 52 week high of $35.00. The business has a 50-day simple moving average of $27.84 and a 200 day simple moving average of $26.11. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -21.65 and a beta of 1.57.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 37.9% on a year-over-year basis. On average, research analysts forecast that Evolent Health, Inc. will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EVH has been the topic of several research reports. JPMorgan Chase & Co. boosted their target price on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. JMP Securities lowered their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Stephens restated an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.40.

About Evolent Health

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.