Hudson Bay Capital Management LP Has $11.40 Million Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Hudson Bay Capital Management LP increased its holdings in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 146.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,013,267 shares of the technology company's stock after buying an additional 601,436 shares during the quarter. Hudson Bay Capital Management LP owned 0.87% of Evolent Health worth $11,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Creek Advisors LLC increased its position in shares of Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock valued at $2,274,000 after acquiring an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health during the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust increased its position in shares of Evolent Health by 90.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after purchasing an additional 2,358 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Evolent Health by 28.0% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock valued at $131,000 after buying an additional 2,542 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Evolent Health in the fourth quarter valued at $31,000.

Evolent Health Price Performance

Evolent Health stock traded down $0.11 during mid-day trading on Thursday, reaching $8.83. 1,481,290 shares of the company were exchanged, compared to its average volume of 2,398,423. The firm has a market cap of $1.03 billion, a PE ratio of -10.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a fifty day simple moving average of $9.62 and a 200-day simple moving average of $11.34. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm's revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, equities research analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the purchase, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. This trade represents a 73.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Seth Blackley acquired 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the transaction, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. The trade was a 7.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 74,000 shares of company stock worth $666,315. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on EVH shares. Truist Financial cut their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Piper Sandler reissued an "overweight" rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, JMP Securities restated a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Evolent Health currently has an average rating of "Buy" and an average target price of $17.79.

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.