Evolent Health, Inc. (NYSE:EVH) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,279 shares of the technology company’s stock after acquiring an additional 16,068 shares during the quarter. Russell Investments Group Ltd.’s holdings in Evolent Health were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of EVH. Summit Creek Advisors LLC grew its stake in Evolent Health by 0.8% during the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company’s stock worth $2,274,000 after purchasing an additional 1,636 shares in the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health during the fourth quarter worth about $26,000. Parkside Financial Bank & Trust increased its stake in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after buying an additional 2,358 shares during the period. Johnson Investment Counsel Inc. raised its holdings in Evolent Health by 28.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock valued at $131,000 after acquiring an additional 2,542 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Evolent Health in the fourth quarter worth approximately $31,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on EVH. Truist Financial dropped their price objective on shares of Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Piper Sandler reiterated an “overweight” rating and set a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $12.00 price target on shares of Evolent Health in a research note on Friday, February 14th. UBS Group dropped their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Oppenheimer reduced their price objective on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $17.64.

Insider Buying and Selling at Evolent Health

In related news, Director Diane Holder acquired 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the transaction, the director now directly owns 70,584 shares of the company’s stock, valued at $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Seth Blackley acquired 55,225 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the transaction, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 74,000 shares of company stock valued at $666,315. Insiders own 1.60% of the company’s stock.

Evolent Health Stock Performance

NYSE:EVH opened at $8.52 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The firm’s fifty day simple moving average is $9.62 and its 200-day simple moving average is $12.98. The stock has a market cap of $993.36 million, a PE ratio of -10.39 and a beta of 1.20.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

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.