Zimmer Partners LP Purchases 88,500 Shares of Evolus, Inc. $EOLS

Key Points

• Zimmer Partners LP has increased its stake in Evolus, Inc. by 21.2%, holding a total of 505,000 shares valued at approximately $6.08 million.
• Wall Street analysts have a moderate buy rating on Evolus with an average price target of $21.25, despite some firms downgrading their ratings.
• In insider transactions, Director Brady Stewart purchased 30,000 shares valued at over $204,000, while insider David Moatazedi sold 111,323 shares worth about $1.12 million.

Zimmer Partners LP lifted its position in shares of Evolus, Inc. (NASDAQ:EOLS - Free Report) by 21.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 505,000 shares of the company's stock after purchasing an additional 88,500 shares during the quarter. Zimmer Partners LP owned approximately 0.78% of Evolus worth $6,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Evolus by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,451 shares of the company's stock worth $347,000 after purchasing an additional 1,094 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Evolus during the 1st quarter worth approximately $39,000. Rhumbline Advisers grew its holdings in shares of Evolus by 4.1% during the 1st quarter. Rhumbline Advisers now owns 83,436 shares of the company's stock worth $1,004,000 after purchasing an additional 3,287 shares in the last quarter. State of Wyoming grew its holdings in shares of Evolus by 988.1% during the 1st quarter. State of Wyoming now owns 3,754 shares of the company's stock worth $45,000 after purchasing an additional 3,409 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Evolus by 31.0% during the 4th quarter. ProShare Advisors LLC now owns 18,563 shares of the company's stock worth $205,000 after purchasing an additional 4,392 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company's stock.

Analyst Upgrades and Downgrades

EOLS has been the topic of several recent research reports. Wall Street Zen lowered Evolus from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Needham & Company LLC restated a "hold" rating and set a $22.00 target price on shares of Evolus in a research report on Wednesday, August 6th. BTIG Research restated a "buy" rating and set a $18.00 target price on shares of Evolus in a research report on Monday, September 8th. Finally, HC Wainwright cut their target price on Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Evolus has an average rating of "Moderate Buy" and an average price target of $21.25.

Insider Activity

In other news, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $7.51, for a total value of $42,972.22. Following the completion of the sale, the chief marketing officer directly owned 89,949 shares in the company, valued at approximately $675,516.99. This trade represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brady Stewart bought 30,000 shares of the stock in a transaction dated Friday, August 15th. The stock was acquired at an average price of $6.82 per share, with a total value of $204,600.00. Following the completion of the purchase, the director owned 88,629 shares of the company's stock, valued at $604,449.78. This represents a 51.17% increase in their position. The disclosure for this purchase can be found here. 5.90% of the stock is currently owned by corporate insiders.

Evolus Price Performance

EOLS traded down $0.32 during trading on Friday, hitting $7.19. The company's stock had a trading volume of 707,868 shares, compared to its average volume of 864,454. The firm's 50 day moving average price is $8.08 and its two-hundred day moving average price is $9.96. The company has a quick ratio of 1.86, a current ratio of 2.27 and a debt-to-equity ratio of 22.00. The stock has a market capitalization of $465.05 million, a price-to-earnings ratio of -7.34 and a beta of 1.07. Evolus, Inc. has a 12 month low of $5.71 and a 12 month high of $17.82.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.