Hodges Capital Management Inc. Sells 287,395 Shares of Evolent Health, Inc. (NYSE:EVH)

Hodges Capital Management Inc. lowered its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 56.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 218,240 shares of the technology company's stock after selling 287,395 shares during the quarter. Hodges Capital Management Inc. owned about 0.19% of Evolent Health worth $6,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Covestor Ltd increased its stake in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company's stock valued at $40,000 after acquiring an additional 826 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Evolent Health by 5,365.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company's stock valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Quarry LP purchased a new position in shares of Evolent Health during the 2nd quarter valued at about $32,000. Canada Pension Plan Investment Board bought a new stake in Evolent Health in the 2nd quarter worth approximately $61,000. Finally, Quest Partners LLC purchased a new stake in Evolent Health in the second quarter worth approximately $87,000.

Wall Street Analyst Weigh In

Several research firms have commented on EVH. Stephens downgraded shares of Evolent Health from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Oppenheimer cut their price target on shares of Evolent Health from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Monday, November 18th. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. Truist Financial restated a "buy" rating and set a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Finally, BTIG Research decreased their price target on Evolent Health from $36.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $26.18.

Evolent Health Trading Down 0.9 %

Shares of NYSE EVH traded down $0.10 during midday trading on Friday, hitting $11.15. 2,375,484 shares of the company traded hands, compared to its average volume of 3,976,320. Evolent Health, Inc. has a 12-month low of $10.82 and a 12-month high of $35.00. The firm has a market cap of $1.30 billion, a P/E ratio of -12.25 and a beta of 1.45. The stock has a 50-day moving average price of $19.73 and a 200 day moving average price of $22.93. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

About Evolent Health

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.