Evolent Health, Inc. (NYSE:EVH) Sees Significant Increase in Short Interest

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

Insider Activity at Evolent Health

In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the transaction, the chief executive officer now directly owns 411,924 shares of the company’s stock, valued at approximately $12,357,720. This trade represents a 31.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,291 shares of company stock valued at $9,290,385. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolent Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after buying an additional 480 shares in the last quarter. Ascent Group LLC raised its position in shares of Evolent Health by 2.8% in the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after buying an additional 550 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in shares of Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after buying an additional 600 shares in the last quarter. American International Group Inc. raised its position in shares of Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after buying an additional 640 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Evolent Health by 2.3% in the 2nd quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock valued at $556,000 after buying an additional 649 shares in the last quarter.

Evolent Health Price Performance

Shares of Evolent Health stock opened at $12.38 on Monday. Evolent Health has a twelve month low of $12.18 and a twelve month high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $24.29. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.60 and a beta of 1.58.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on EVH shares. KeyCorp started coverage on shares of Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Citigroup cut their target price on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. JMP Securities cut their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Oppenheimer cut their target price on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. Finally, Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. 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’s stock. According to MarketBeat, Evolent Health presently has an average rating of “Buy” and a consensus target price of $29.50.

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.