Tudor Investment Corp ET AL Has $5.83 Million Stake in Evolent Health, Inc $EVH

Key Points

• Tudor Investment Corp raised its stake in Evolent Health by 174.4% in Q3 to 689,262 shares (about 0.62% of the company), valued at $5.83 million.
• Multiple institutions also built or boosted positions — notably Eventide (now 6,292,511 shares, ~$53.2M), Durable Capital (new ~$72.3M stake), Rubicon (~$49.2M) and Goldman Sachs (up 162.2% to ~2.84M shares) — indicating significant institutional buying interest.
• Analysts have trimmed price targets but the consensus remains a "Moderate Buy" with a $6.04 average target; the stock trades near $2.57 after an EPS beat, while revenue is down 27.5% YoY and the company reports a negative net margin.

Tudor Investment Corp ET AL increased its stake in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 174.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 689,262 shares of the technology company's stock after acquiring an additional 438,095 shares during the period. Tudor Investment Corp ET AL owned about 0.62% of Evolent Health worth $5,831,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EVH. Durable Capital Partners LP acquired a new stake in shares of Evolent Health during the second quarter worth $72,326,000. Rubicon Founders LLC acquired a new stake in Evolent Health in the 3rd quarter valued at $49,204,000. 8 Knots Management LLC acquired a new stake in Evolent Health in the 2nd quarter valued at $32,802,000. Eventide Asset Management LLC increased its stake in Evolent Health by 54.0% in the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company's stock valued at $53,246,000 after buying an additional 2,205,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company's stock valued at $26,861,000 after buying an additional 1,754,520 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EVH shares. BTIG Research lowered their price target on shares of Evolent Health from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Needham & Company LLC lowered their price target on shares of Evolent Health from $15.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. KeyCorp cut shares of Evolent Health from an "overweight" rating to a "sector weight" rating in a report on Wednesday, February 25th. BMO Capital Markets reissued an "outperform" rating and issued a $3.50 price target on shares of Evolent Health in a report on Wednesday, February 25th. Finally, Citigroup lowered their price target on shares of Evolent Health from $6.00 to $4.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Thirteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.04.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $2.57 on Thursday. The firm has a 50 day moving average of $2.81 and a 200-day moving average of $4.50. The stock has a market capitalization of $286.36 million, a PE ratio of -0.50 and a beta of 0.37. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34. Evolent Health, Inc has a 12 month low of $2.10 and a 12 month high of $12.06.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Tuesday, February 24th. The technology company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $468.72 million during the quarter, compared to analysts' expectations of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The business's revenue for the quarter was down 27.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) EPS. On average, equities research analysts predict that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Evolent Health Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company's core offerings include care management solutions, population health analytics and clinical advisory services.

Want to see what other hedge funds are holding EVH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolent Health, Inc (NYSE:EVH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.