Quinn Opportunity Partners LLC Buys New Shares in Evolent Health, Inc. (NYSE:EVH)

Quinn Opportunity Partners LLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90,000 shares of the technology company's stock, valued at approximately $1,012,000. Quinn Opportunity Partners LLC owned 0.08% of Evolent Health at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its position in shares of Evolent Health by 150.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 25,469 shares of the technology company's stock worth $720,000 after purchasing an additional 15,299 shares during the last quarter. State Street Corp grew its stake in Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company's stock valued at $77,074,000 after acquiring an additional 25,967 shares in the last quarter. Barclays PLC raised its holdings in Evolent Health by 181.3% in the 3rd quarter. Barclays PLC now owns 273,776 shares of the technology company's stock valued at $7,742,000 after acquiring an additional 176,445 shares during the last quarter. Franklin Resources Inc. lifted its stake in Evolent Health by 40.8% in the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock worth $24,682,000 after purchasing an additional 263,815 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company's stock worth $1,623,000 after purchasing an additional 41,788 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have commented on EVH shares. Citigroup reduced their target price on shares of Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Stephens reduced their target price on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Finally, JMP Securities reissued a "market outperform" rating and set a $12.00 target price on shares of Evolent Health in a research note on Friday, February 14th. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $17.64.

Evolent Health Stock Performance

EVH traded down $0.23 during trading on Thursday, reaching $9.00. The company's stock had a trading volume of 1,592,188 shares, compared to its average volume of 2,305,786. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -10.96 and a beta of 1.20. The company's fifty day moving average price is $9.68 and its 200-day moving average price is $13.55. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

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

Insider Activity at Evolent Health

In related news, CEO Seth Blackley purchased 55,225 shares of the company's stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the transaction, the chief executive officer now owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Daniel Joseph Mccarthy acquired 11,040 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the purchase, the president now 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. Insiders bought 74,000 shares of company stock valued at $666,315 in the last ninety days. 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.