Evolent Health, Inc. (NYSE:EVH) Short Interest Up 14.6% in October

Evolent Health, Inc. (NYSE:EVH) saw a large growth in short interest in 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 trading volume of 2,410,000 shares, the days-to-cover ratio is currently 5.2 days.

Evolent Health Stock Performance

NYSE:EVH traded down $0.29 during mid-day trading on Friday, hitting $12.38. 3,124,667 shares of the stock were exchanged, compared to its average volume of 1,772,071. The firm’s 50-day simple moving average is $25.11 and its 200 day simple moving average is $24.32. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -13.60 and a beta of 1.58. Evolent Health has a fifty-two week low of $12.18 and a fifty-two week high of $35.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04.

Insider Transactions at Evolent Health

In related news, COO Emily Ann Rafferty sold 8,861 shares of the 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 $265,830.00. Following the completion of the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This represents a 12.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. This trade represents a 20.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 in the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EVH. Brophy Wealth Management LLC acquired a new position in shares of Evolent Health in the third quarter valued at about $405,000. Barclays PLC boosted its holdings in Evolent Health by 181.3% in the 3rd quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock valued at $7,742,000 after purchasing an additional 176,445 shares during the period. Wellington Management Group LLP grew its position in shares of 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 purchasing an additional 1,426,747 shares in the last quarter. State Street Corp increased its holdings in shares of Evolent Health by 1.0% during the third quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after purchasing an additional 25,967 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Evolent Health by 1,948.5% in the third quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock valued at $42,289,000 after buying an additional 1,422,385 shares in the last quarter.

Analyst Ratings Changes

EVH has been the subject of several analyst reports. Barclays decreased their target price on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, August 19th. KeyCorp began coverage on shares of Evolent Health in a research note on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Finally, Oppenheimer cut their price objective on Evolent Health from $45.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.