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

Hollencrest Capital Management reduced its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 70.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in Evolent Health in the 1st quarter worth approximately $46,000. GAMMA Investing LLC raised 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 buying an additional 1,556 shares during the last quarter. Quarry LP bought a new stake in Evolent Health during the 2nd quarter worth about $32,000. Canada Pension Plan Investment Board acquired a new stake in Evolent Health in the second quarter valued at $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Evolent Health in the second quarter valued at approximately $87,000.

Evolent Health Price Performance

EVH traded down $11.22 during trading hours on Friday, hitting $13.35. The company's stock had a trading volume of 20,330,635 shares, compared to its average volume of 1,705,920. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -14.67 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. The business's 50-day moving average price is $27.21 and its 200-day moving average price is $24.98. Evolent Health, Inc. has a 12 month low of $13.31 and a 12 month high of $35.00.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 8.47% and a negative net margin of 3.16%. The company had revenue of $647.10 million for the quarter, compared to the consensus estimate of $636.46 million. During the same period last year, the business posted $0.06 EPS. Evolent Health's quarterly revenue was up 37.9% on a year-over-year basis. Sell-side analysts expect that Evolent Health, Inc. will post 0.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares of the company's stock, valued at $5,211,242.40. 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 is accessible through this hyperlink. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the completion of the sale, the general counsel now directly owns 167,027 shares of the company's stock, valued at approximately $5,211,242.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Seth Blackley sold 187,904 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares of the company's stock, valued at $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EVH shares. JMP Securities lowered their price target on shares of Evolent Health from $34.00 to $31.00 and set a "market outperform" rating on the stock in a research report on Friday, August 9th. Citigroup cut their target price on shares of Evolent Health from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, October 29th. Stephens lowered shares of Evolent Health from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $38.00 to $16.00 in a report on Friday. 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 research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $34.90.

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.