Short Interest in Evolent Health, Inc. (NYSE:EVH) Rises By 14.6%

Evolent Health, Inc. (NYSE:EVH) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 12,490,000 shares, a growth of 14.6% from the October 15th total of 10,900,000 shares. Based on an average daily volume of 2,410,000 shares, the days-to-cover ratio is currently 5.2 days.

Insider Transactions at Evolent Health

In other Evolent Health news, CFO John Paul Johnson sold 44,693 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $1,340,790.00. Following the completion of the transaction, the chief financial officer now owns 171,207 shares in the company, valued at $5,136,210. This represents a 20.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 31.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 307,291 shares of company stock valued at $9,290,385 over the last ninety days. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Evolent Health

A number of large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after purchasing an additional 93,739 shares in the last quarter. RA Capital Management L.P. raised its stake in Evolent Health by 125.0% during 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 buying an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC raised its stake in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after buying an additional 1,308,376 shares during the last quarter. Finally, Engaged Capital LLC raised its stake in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after buying an additional 850,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EVH. Oppenheimer reduced their price objective on Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Barclays reduced their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. KeyCorp began coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $29.50.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $12.40 on Monday. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -13.60 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 1.08 and a debt-to-equity ratio of 0.58. Evolent Health has a 1-year low of $12.18 and a 1-year high of $35.00. The stock’s 50-day moving average is $25.11 and its 200 day moving average is $24.29.

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.