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

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

Several other institutional investors also recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Evolent Health in the second quarter worth $32,000. Covestor Ltd raised its position in shares of Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC raised its position in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Evolent Health in the second quarter worth about $61,000. Finally, Quest Partners LLC acquired a new position in shares of Evolent Health during the 2nd quarter worth about $87,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EVH. JMP Securities dropped their price objective 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. Truist Financial reaffirmed a “buy” rating and set a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Oppenheimer dropped their price objective 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. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $16.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. One equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $29.50.

Insider Transactions at Evolent Health

In other news, President Daniel Joseph Mccarthy sold 23,693 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.89, for a total value of $731,876.77. Following the transaction, the president now directly owns 198,809 shares in the company, valued at approximately $6,141,210.01. This represents a 10.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 411,924 shares in the company, valued at approximately $12,357,720. This represents a 31.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is currently owned by insiders.

Evolent Health Stock Performance

Shares of EVH stock opened at $12.38 on Monday. The firm’s 50 day moving average price is $25.11 and its 200-day moving average price is $24.29. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04. Evolent Health, Inc. has a one year low of $12.18 and a one year 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.

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.