Hsbc Holdings PLC Purchases Shares of 57,210 Evolent Health, Inc. (NYSE:EVH)

Hsbc Holdings PLC acquired a new stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 57,210 shares of the technology company's stock, valued at approximately $632,000.

Several other large investors have also made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health during the fourth quarter worth approximately $26,000. R Squared Ltd bought a new stake in Evolent Health during the fourth quarter valued at about $31,000. AlphaQuest LLC grew its position in shares of 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 position in shares of Evolent Health by 90.7% during the 4th 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 last quarter. Finally, AlphaCentric Advisors LLC bought a new stake in Evolent Health during the 4th quarter valued at approximately $61,000.

Insider Buying and Selling

In related news, Director Brendan B. Springstubb bought 5,000 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $8.75 per share, with a total value of $43,750.00. Following the transaction, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. This trade represents a 73.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diane Holder acquired 2,735 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. This represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 74,000 shares of company stock valued at $666,315. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on EVH. Royal Bank of Canada cut their target price on shares of Evolent Health from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a research report on Friday, February 21st. JMP Securities restated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research report on Monday, April 28th. Citigroup reduced their target price on Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, UBS Group boosted their price target on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Evolent Health has a consensus rating of "Buy" and a consensus price target of $17.79.

Evolent Health Price Performance

EVH stock traded down $1.73 during mid-day trading on Friday, reaching $9.05. 5,422,608 shares of the company traded hands, compared to its average volume of 2,391,408. The company has a fifty day moving average price of $9.60 and a 200-day moving average price of $11.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.04. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $483.65 million during the quarter, compared to the consensus estimate of $460.15 million. During the same period last year, the firm posted $0.34 EPS. The company's revenue was down 24.4% on a year-over-year basis. As a group, analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Evolent Health Company 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.