Hsbc Holdings PLC Invests $632,000 in Evolent Health, Inc. (NYSE:EVH)

Hsbc Holdings PLC bought a new position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 57,210 shares of the technology company's stock, valued at approximately $632,000.

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

Insider Buying and Selling at Evolent Health

In related news, CEO Seth Blackley purchased 55,225 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Brendan B. Springstubb acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares in the company, valued at $103,617.50. The trade was a 73.08% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 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 analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research report on Friday, February 21st. UBS Group boosted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday. Stephens reduced their price objective on shares of Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Oppenheimer reduced their price objective on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. cut their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Stock Down 16.0%

Shares of NYSE:EVH traded down $1.73 during trading on Friday, hitting $9.05. 5,422,608 shares of the company were exchanged, compared to its average volume of 2,382,794. The stock has a market capitalization of $1.06 billion, a P/E ratio of -11.04 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month high of $33.63. The firm's 50 day moving average price is $9.61 and its 200-day moving average price is $11.47.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly 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 negative net margin of 2.41% and a positive return on equity of 5.73%. The business had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. During the same quarter last year, the company earned $0.34 EPS. The firm's revenue for the quarter was down 24.4% compared to the same quarter last year. On average, research analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal 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.