Quantbot Technologies LP Buys Shares of 120,056 Evolent Health, Inc. (NYSE:EVH)

Quantbot Technologies LP purchased a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 120,056 shares of the technology company’s stock, valued at approximately $1,351,000. Quantbot Technologies LP owned approximately 0.10% of Evolent Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd bought a new position in Evolent Health during the 4th quarter valued at $31,000. AlphaQuest LLC lifted its position in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Evolent Health by 90.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares in the last quarter. AlphaCentric Advisors LLC bought a new stake in Evolent Health in the fourth quarter valued at about $61,000. Finally, KBC Group NV lifted its holdings in Evolent Health by 124.6% during the 4th quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock worth $76,000 after buying an additional 3,739 shares during the last quarter.

Insider Buying and Selling at Evolent Health

In other Evolent Health news, CEO Seth Blackley acquired 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane Holder bought 2,735 shares of the stock in a transaction on 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 approximately $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock worth $666,315 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Evolent Health Trading Up 1.1 %

Evolent Health stock opened at $9.69 on Tuesday. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.13 billion, a P/E ratio of -11.81 and a beta of 1.49. The company’s fifty day simple moving average is $9.88 and its 200-day simple moving average is $15.92.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Stephens dropped their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Piper Sandler reaffirmed an “overweight” rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Oppenheimer cut their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Truist Financial reduced their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Evolent Health has an average rating of “Buy” and a consensus target price of $17.71.

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.