Sea Cliff Partners Management LP Takes $9.34 Million Position in Evolent Health, Inc. (NYSE:EVH)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Creek Advisors LLC raised 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 during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health in the 4th quarter valued at approximately $26,000. Parkside Financial Bank & Trust grew its stake in shares of 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 acquiring an additional 2,358 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in Evolent Health by 28.0% during the 4th quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company's stock worth $131,000 after purchasing an additional 2,542 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Evolent Health during the fourth quarter worth $31,000.

Insider Activity

In related news, President Daniel Joseph Mccarthy purchased 11,040 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley acquired 55,225 shares of Evolent Health 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 $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at approximately $6,867,575.17. The trade was a 7.81% 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. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on EVH. Truist Financial cut their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. Stephens cut their target price on shares of Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Oppenheimer dropped their price target on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, UBS Group raised their target price on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. One investment 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.79.

Evolent Health Stock Performance

Shares of EVH traded up $0.15 during midday trading on Tuesday, reaching $8.77. The stock had a trading volume of 2,665,839 shares, compared to its average volume of 2,405,982. The firm has a market cap of $1.02 billion, a PE ratio of -10.69 and a beta of 1.04. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $9.57 and a 200-day simple moving average of $10.84. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last issued 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 negative net margin of 2.41% and a positive return on equity of 5.73%. The firm had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. Evolent Health's quarterly revenue was down 24.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.