Hollencrest Capital Management Reduces Position in Evolent Health, Inc. (NYSE:EVH)

Hollencrest Capital Management decreased its position in Evolent Health, Inc. (NYSE:EVH) by 70.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,500 shares of the technology company’s stock after selling 66,825 shares during the period. Hollencrest Capital Management’s holdings in Evolent Health were worth $806,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in EVH. Vanguard Group Inc. lifted its position in shares of Evolent Health by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock worth $357,905,000 after purchasing an additional 93,739 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after purchasing an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Evolent Health by 35.2% in the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares in the last quarter. Engaged Capital LLC raised its position in shares of Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after buying an additional 850,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Evolent Health by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock worth $45,286,000 after purchasing an additional 121,770 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EVH. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, October 8th. Oppenheimer dropped their target price on shares of Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Stephens cut shares of Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $38.00 to $16.00 in a report on Friday. Finally, KeyCorp began coverage on shares of Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 target price on the stock. One research 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 stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $34.90.

Evolent Health Trading Down 40.9 %

Shares of EVH traded down $10.05 during midday trading on Friday, hitting $14.52. The stock had a trading volume of 8,575,812 shares, compared to its average volume of 1,651,776. Evolent Health, Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $35.00. The business has a 50-day simple moving average of $27.21 and a two-hundred day simple moving average of $24.98. The firm has a market cap of $1.69 billion, a P/E ratio of -15.76 and a beta of 1.58. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 8th. The technology company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The company had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. During the same period last year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. As a group, equities analysts forecast that Evolent Health, Inc. will post 0.84 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, President Daniel Joseph Mccarthy sold 23,693 shares of the firm’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 transaction of $731,876.77. Following the transaction, the president now owns 198,809 shares of the company’s stock, valued at approximately $6,141,210.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock worth $9,290,385 over the last ninety days. 1.60% of the stock is currently owned by company insiders.

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.