Alliancebernstein L.P. Has $1.44 Million Stock Position in Evolent Health, Inc. (NYSE:EVH)

Alliancebernstein L.P. cut its position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 43.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,753 shares of the technology company's stock after selling 100,004 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Evolent Health worth $1,437,000 at the end of the most recent quarter.

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

Evolent Health Stock Performance

NYSE:EVH traded down $0.28 during trading hours on Friday, hitting $8.95. 2,978,007 shares of the company traded hands, compared to its average volume of 2,329,721. The firm has a 50-day moving average of $9.64 and a 200 day moving average of $13.10. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -10.92 and a beta of 1.20.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (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 the consensus estimate of $650.92 million. On average, analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Seth Blackley purchased 55,225 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 directly owns 762,217 shares in the company, valued at $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Daniel Joseph Mccarthy acquired 11,040 shares of the company's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.01 per share, with a total value of $99,470.40. Following the completion of the purchase, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 74,000 shares of company stock worth $666,315 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank of Canada cut their price objective on Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a report on Tuesday, January 14th. Oppenheimer cut their price objective on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a research report on Friday, February 21st. Piper Sandler restated an "overweight" rating and set a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, UBS Group decreased their price objective on shares of Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $17.64.

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.