Cassaday & Co Wealth Management LLC Invests $262,000 in Evolent Health, Inc. (NYSE:EVH)

Cassaday & Co Wealth Management LLC acquired a new stake in shares of Evolent Health, Inc. (NYSE:EVH) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 9,260 shares of the technology company’s stock, valued at approximately $262,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Royce & Associates LP purchased a new position in shares of Evolent Health during the 3rd quarter valued at $7,070,000. Oppenheimer & Co. Inc. bought a new stake in Evolent Health during the third quarter valued at $855,000. Entropy Technologies LP purchased a new position in Evolent Health during the third quarter worth about $319,000. Los Angeles Capital Management LLC bought a new position in Evolent Health in the 3rd quarter worth about $430,000. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Evolent Health in the 3rd quarter valued at about $1,774,000.

Insider Activity

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $5,637,120.00. Following the transaction, the chief executive officer now owns 411,924 shares in the company, valued at approximately $12,357,720. The trade was a 31.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Emily Ann Rafferty sold 8,861 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the transaction, the chief operating officer now directly owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 12.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

EVH has been the subject of several recent analyst reports. Citigroup cut their price objective on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Truist Financial reissued a “buy” rating and issued a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. JPMorgan Chase & Co. raised their price objective on shares of Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. KeyCorp began coverage on shares of Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price for the company. Finally, Oppenheimer lowered their price target on Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $28.90.

Evolent Health Stock Performance

NYSE EVH opened at $12.35 on Tuesday. The company has a 50-day simple moving average of $24.75 and a two-hundred day simple moving average of $24.19. Evolent Health, Inc. has a 12-month low of $12.18 and a 12-month high of $35.00. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -13.57 and a beta of 1.58. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

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.