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

Hudson Bay Capital Management LP boosted its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 146.0% during the 4th quarter, according to its most recent Form 13F 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 filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new stake in shares of Evolent Health in the fourth quarter valued at approximately $513,000. Granahan Investment Management LLC raised its stake in Evolent Health by 5.2% during the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock worth $41,329,000 after purchasing an additional 181,893 shares during the period. Forest Hill Capital LLC raised its stake in Evolent Health by 223.5% during the fourth quarter. Forest Hill Capital LLC now owns 144,750 shares of the technology company's stock worth $1,628,000 after purchasing an additional 100,000 shares during the period. Fort Baker Capital Management LP purchased a new position in Evolent Health during the fourth quarter worth approximately $3,028,000. Finally, Ethic Inc. purchased a new position in shares of Evolent Health in the 4th quarter valued at $113,000.

Evolent Health Price Performance

EVH stock traded down $0.01 on Friday, hitting $8.81. 1,799,887 shares of the company's stock traded hands, compared to its average volume of 2,405,722. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -10.74 and a beta of 1.04. The stock has a fifty day moving average of $9.60 and a 200-day moving average of $11.05. 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 (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $483.65 million for the quarter, compared to analyst estimates of $460.15 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm's revenue for the quarter was down 24.4% on a year-over-year basis. On average, analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on EVH shares. JMP Securities reissued a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research note on Monday, April 28th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a research report on Tuesday. Truist Financial decreased their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, Oppenheimer reduced their target price on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Evolent Health currently has a consensus rating of "Buy" and a consensus target price of $17.79.

Insider Activity at Evolent Health

In other news, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired 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 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now owns 11,842 shares in the company, valued at $103,617.50. This represents a 73.08% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 74,000 shares of company stock valued at $666,315 over the last ninety days. Insiders own 1.40% of the company's stock.

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.