Prescott Group Capital Management L.L.C. Takes $1.71 Million Position in Evolent Health, Inc. (NYSE:EVH)

Prescott Group Capital Management L.L.C. purchased a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 152,251 shares of the technology company's stock, valued at approximately $1,713,000. Prescott Group Capital Management L.L.C. owned 0.13% of Evolent Health at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Royce & Associates LP bought a new stake in Evolent Health during the third quarter worth $7,070,000. Foundry Partners LLC bought a new stake in shares of Evolent Health during the 3rd quarter worth $10,042,000. Salem Investment Counselors Inc. lifted its position in shares of Evolent Health by 53.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company's stock worth $3,939,000 after buying an additional 121,369 shares during the last quarter. Nordea Investment Management AB boosted its stake in Evolent Health by 7.0% in the fourth quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock valued at $1,469,000 after buying an additional 8,552 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Evolent Health by 90.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock valued at $9,036,000 after acquiring an additional 380,790 shares during the last quarter.

Evolent Health Trading Up 2.9 %

NYSE EVH traded up $0.27 during mid-day trading on Tuesday, reaching $9.37. 2,479,901 shares of the stock were exchanged, compared to its average volume of 2,068,965. The stock has a 50 day simple moving average of $10.33 and a 200-day simple moving average of $17.45. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $34.51. The stock has a market cap of $1.09 billion, a P/E ratio of -11.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. On average, analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Monday. Stephens decreased 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 research note on Tuesday, January 21st. BTIG Research lowered their price target on shares of Evolent Health from $36.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Piper Sandler reissued an "overweight" rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, Truist Financial lowered their target price 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 investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $17.71.

Insiders Place Their Bets

In other Evolent Health news, Director Brendan B. Springstubb acquired 5,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Daniel Joseph Mccarthy acquired 11,040 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.01 per share, with a total value of $99,470.40. Following the completion of the acquisition, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 74,000 shares of company stock worth $666,315. Corporate insiders own 1.60% of the company's stock.

Evolent Health 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.