Los Angeles Capital Management LLC Invests $430,000 in Evolent Health, Inc. (NYSE:EVH)

Los Angeles Capital Management LLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,191 shares of the technology company’s stock, valued at approximately $430,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. RA Capital Management L.P. grew its stake in Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after purchasing an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after acquiring an additional 1,308,376 shares during the period. First Light Asset Management LLC lifted its holdings in Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter. Engaged Capital LLC lifted its holdings in Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Evolent Health by 24.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock worth $39,164,000 after purchasing an additional 406,837 shares during the last quarter.

Evolent Health Price Performance

Shares of NYSE EVH opened at $12.38 on Monday. Evolent Health, Inc. has a twelve month low of $12.18 and a twelve month high of $35.00. The firm has a market cap of $1.44 billion, a P/E ratio of -13.60 and a beta of 1.58. The company has a 50 day moving average of $25.11 and a 200 day moving average of $24.29. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Evolent Health in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Citigroup dropped their price objective on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $29.50.

Insider Activity

In related news, CEO Seth Blackley sold 187,904 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the sale, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at $12,357,720. This represents a 31.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at $1,902,240. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 in the last 90 days. Company insiders own 1.60% of the company’s stock.

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.