First Light Asset Management LLC Has $603,000 Position in Evolent Health, Inc. (NYSE:EVH)

First Light Asset Management LLC reduced its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 97.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,620 shares of the technology company's stock after selling 2,244,641 shares during the period. First Light Asset Management LLC's holdings in Evolent Health were worth $603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Creek Advisors LLC lifted 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 worth $2,274,000 after buying an additional 1,636 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health in the 4th quarter worth approximately $26,000. Parkside Financial Bank & Trust boosted its position in Evolent Health by 90.7% during the fourth 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 period. Johnson Investment Counsel Inc. grew its holdings in Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock valued at $131,000 after purchasing 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 approximately $31,000.

Insider Activity at Evolent Health

In other news, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now directly owns 11,842 shares in the company, valued at approximately $103,617.50. This 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 the SEC website. Also, President Daniel Joseph Mccarthy acquired 11,040 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 74,000 shares of company stock valued at $666,315 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Friday, February 21st. Stephens dropped their price objective on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Canaccord Genuity Group decreased their target price on Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Citigroup dropped their price target on Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Finally, UBS Group reduced their price objective on Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.71.

Evolent Health Price Performance

Shares of EVH stock traded up $0.78 during mid-day trading on Friday, reaching $10.73. The company's stock had a trading volume of 1,747,176 shares, compared to its average volume of 2,368,507. The firm's 50-day moving average is $9.48 and its two-hundred day moving average is $12.11. The company has a market cap of $1.25 billion, a P/E ratio of -13.09 and a beta of 1.20. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year 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 posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. On average, research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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.