Forest Hill Capital LLC Boosts Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Forest Hill Capital LLC raised its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 223.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,750 shares of the technology company's stock after acquiring an additional 100,000 shares during the quarter. Evolent Health accounts for about 1.3% of Forest Hill Capital LLC's holdings, making the stock its 25th biggest position. Forest Hill Capital LLC owned about 0.12% of Evolent Health worth $1,628,000 as of its most recent filing with the SEC.

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

Evolent Health Price Performance

Shares of NYSE EVH opened at $9.05 on Friday. The firm's 50-day simple moving average is $9.61 and its 200 day simple moving average is $11.63. The stock has a market cap of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.04. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week 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 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. During the same period in the previous year, the firm earned $0.34 EPS. Evolent Health's revenue for the quarter was down 24.4% on a year-over-year basis. Equities analysts expect that Evolent Health, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EVH. JPMorgan Chase & Co. cut their price objective on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. 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 research report on Thursday, April 10th. Piper Sandler restated an "overweight" rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health has an average rating of "Buy" and an average price target of $17.79.

Insider Buying and Selling at Evolent Health

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the transaction, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. The trade was 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 this hyperlink. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, for a total transaction of $99,470.40. Following the completion of the transaction, the president now directly owns 389,004 shares of the company's stock, valued at $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. In the last three months, insiders acquired 74,000 shares of company stock valued at $666,315. 1.60% of the stock is owned by insiders.

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.

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