Sea Cliff Partners Management LP Acquires Shares of 830,000 Evolent Health, Inc. (NYSE:EVH)

Sea Cliff Partners Management LP purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 830,000 shares of the technology company's stock, valued at approximately $9,338,000. Evolent Health makes up approximately 3.2% of Sea Cliff Partners Management LP's portfolio, making the stock its 15th biggest position. Sea Cliff Partners Management LP owned about 0.71% of Evolent Health as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Creek Advisors LLC increased its holdings in Evolent Health by 0.8% in the 4th quarter. Summit Creek Advisors LLC now owns 202,114 shares of the technology company's stock worth $2,274,000 after buying an additional 1,636 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health during the 4th quarter valued at about $26,000. Parkside Financial Bank & Trust grew its stake 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 purchasing an additional 2,358 shares during the period. Johnson Investment Counsel Inc. grew its stake in shares of Evolent Health by 28.0% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock valued at $131,000 after purchasing an additional 2,542 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Evolent Health during the 4th quarter valued at about $31,000.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research report on Tuesday, May 13th. Piper Sandler reaffirmed an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Canaccord Genuity Group lowered their price objective on Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Oppenheimer lowered their price objective on Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Finally, Truist Financial lowered their price objective on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.79.

Insider Activity

In other Evolent Health news, Director Diane Holder acquired 2,735 shares of the business's stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $9.33 per share, with a total value of $25,517.55. Following the transaction, the director now directly owns 70,584 shares of the company's stock, valued at $658,548.72. The trade was a 4.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Brendan B. Springstubb purchased 5,000 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the purchase, the director now owns 11,842 shares of the company's stock, valued at approximately $103,617.50. This trade represents a 73.08% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 74,000 shares of company stock valued at $666,315. 1.40% of the stock is currently owned by insiders.

Evolent Health Price Performance

NYSE:EVH traded down $0.57 during trading hours on Thursday, reaching $7.43. The stock had a trading volume of 1,230,013 shares, compared to its average volume of 2,404,970. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health, Inc. has a 52 week low of $7.40 and a 52 week high of $33.63. The company has a 50 day moving average price of $9.54 and a two-hundred day moving average price of $10.82. The stock has a market capitalization of $872.75 million, a PE ratio of -9.06 and a beta of 1.04.

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 the consensus estimate of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business's revenue for the quarter was down 24.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. As a group, sell-side analysts anticipate 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.