One68 Global Capital LLC Takes $4.06 Million Position in Evolent Health, Inc. (NYSE:EVH)

One68 Global Capital LLC bought a new position in Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 360,990 shares of the technology company's stock, valued at approximately $4,061,000. Evolent Health accounts for approximately 2.1% of One68 Global Capital LLC's portfolio, making the stock its 9th largest position. One68 Global Capital LLC owned about 0.31% of Evolent Health at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in EVH. Summit Creek Advisors LLC increased its position in shares of Evolent Health by 0.8% in the fourth quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after acquiring an additional 1,636 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the 4th quarter valued at $26,000. Parkside Financial Bank & Trust grew its stake 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 worth $56,000 after purchasing an additional 2,358 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of Evolent Health by 28.0% in the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock valued at $131,000 after acquiring an additional 2,542 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Evolent Health during the fourth quarter valued at $31,000.

Evolent Health Trading Down 1.2 %

Shares of Evolent Health stock traded down $0.13 during trading on Monday, hitting $10.56. 565,607 shares of the company were exchanged, compared to its average volume of 2,449,191. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63. The firm's fifty day moving average price is $9.48 and its 200 day moving average price is $11.92. The firm has a market capitalization of $1.23 billion, a P/E ratio of -12.89 and a beta of 1.20. 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 (NYSE:EVH - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. As a group, sell-side analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, Director Brendan B. Springstubb purchased 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $8.75 per share, with a total value of $43,750.00. Following the acquisition, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Diane Holder acquired 2,735 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the acquisition, the director now owns 70,584 shares in the company, valued at $658,548.72. This represents a 4.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock worth $666,315 over the last three months. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EVH shares. Piper Sandler restated an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Oppenheimer dropped their target price on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 target price on shares of Evolent Health in a research note on Monday, April 28th. UBS Group cut their price objective on Evolent Health from $27.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial dropped their price target on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Evolent Health has a consensus rating of "Buy" and a consensus price target of $17.71.

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.