FORA Capital LLC Purchases Shares of 56,739 Evolent Health, Inc. (NYSE:EVH)

FORA Capital LLC bought a new stake in Evolent Health, Inc. (NYSE:EVH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 56,739 shares of the technology company's stock, valued at approximately $638,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd acquired a new position in Evolent Health during the 4th quarter worth $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health in the fourth quarter valued at about $31,000. AlphaQuest LLC grew its holdings in Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after purchasing an additional 3,031 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock valued at $56,000 after buying an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Evolent Health during the fourth quarter worth about $61,000.

Insider Activity

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, with a total value of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. This represents a 7.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $9.01 per share, with a total value of $99,470.40. Following the completion of the transaction, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. This trade represents a 2.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 74,000 shares of company stock worth $666,315 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EVH has been the subject of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Truist Financial reduced their price target on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Oppenheimer cut 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. JMP Securities restated a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a report on Monday, April 28th. Finally, UBS Group upped their target price on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Evolent Health currently has an average rating of "Buy" and an average price target of $17.79.

Evolent Health Stock Performance

Shares of EVH stock traded down $0.13 on Thursday, reaching $8.82. The stock had a trading volume of 713,461 shares, compared to its average volume of 2,395,463. The stock has a market cap of $1.03 billion, a P/E ratio of -10.71 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50 day simple moving average of $9.62 and a 200 day simple moving average of $11.34. Evolent Health, Inc. has a 1 year low of $8.35 and a 1 year high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last announced its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share 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 firm had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. During the same period in the prior year, the company posted $0.34 EPS. The company's revenue was down 24.4% compared to the same quarter last year. Equities research analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current year.

Evolent Health Profile

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.