Evolent Health, Inc. (NYSE:EVH) Shares Sold by Engaged Capital LLC

Engaged Capital LLC cut its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,989,468 shares of the technology company's stock after selling 121,990 shares during the quarter. Evolent Health makes up approximately 18.3% of Engaged Capital LLC's investment portfolio, making the stock its largest position. Engaged Capital LLC owned approximately 3.43% of Evolent Health worth $112,822,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Covestor Ltd grew its holdings in Evolent Health by 138.1% in the 3rd quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after buying an additional 826 shares in the last quarter. GAMMA Investing LLC grew its position in Evolent Health by 5,365.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after acquiring an additional 1,556 shares in the last quarter. Quarry LP acquired a new position in Evolent Health in the 2nd quarter valued at about $32,000. Canada Pension Plan Investment Board acquired a new position in Evolent Health in the 2nd quarter valued at about $61,000. Finally, Quest Partners LLC acquired a new position in Evolent Health in the 2nd quarter valued at about $87,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EVH shares. KeyCorp initiated coverage on Evolent Health in a research report on Friday, October 11th. They issued an "overweight" rating and a $35.00 target price for the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Stephens cut Evolent Health from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $38.00 to $16.00 in a research note on Friday, November 8th. JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a "market outperform" rating for the company in a research note on Friday, August 9th. Finally, Oppenheimer dropped their target price on Evolent Health from $34.00 to $28.00 and set an "outperform" rating on the stock in a report on Monday, November 18th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $25.90.

Evolent Health Price Performance

Shares of NYSE EVH traded down $0.01 during mid-day trading on Friday, reaching $12.92. The company had a trading volume of 1,102,673 shares, compared to its average volume of 1,801,422. The stock has a market cap of $1.51 billion, a PE ratio of -14.21 and a beta of 1.58. The company has a 50-day moving average price of $21.83 and a two-hundred day moving average price of $23.41. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 1-year low of $11.17 and a 1-year high of $35.00.

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.