Foundry Partners LLC Cuts Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Foundry Partners LLC lowered its position in Evolent Health, Inc. (NYSE:EVH) by 39.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,325 shares of the technology company’s stock after selling 139,773 shares during the period. Foundry Partners LLC owned about 0.18% of Evolent Health worth $2,422,000 at the end of the most recent reporting period.

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

Evolent Health Stock Down 1.0 %

EVH stock opened at $9.98 on Friday. The stock has a 50-day simple moving average of $9.79 and a two-hundred day simple moving average of $14.83. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The firm has a market capitalization of $1.16 billion, a PE ratio of -12.17 and a beta of 1.49. 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 (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $646.54 million for the quarter, compared to analysts’ expectations of $650.92 million. On average, equities analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms have recently commented on EVH. Stephens lowered their target price on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada lowered their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler reissued an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. Finally, Truist Financial reduced their price objective on 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 data from MarketBeat, the company has a consensus 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.