Evolent Health, Inc. (NYSE:EVH) Sees Significant Increase in Short Interest

Evolent Health, Inc. (NYSE:EVH) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 12,490,000 shares, a growth of 14.6% from the October 15th total of 10,900,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is currently 5.2 days.

Insider Buying and Selling

In other Evolent Health news, COO Emily Ann Rafferty sold 8,861 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the sale, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. This trade represents a 12.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total value of $1,314,768.00. Following the transaction, the general counsel now directly owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This trade represents a 20.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,291 shares of company stock worth $9,290,385. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Evolent Health in the 2nd quarter valued at about $32,000. Covestor Ltd increased its holdings in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC lifted its stake in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock valued at $45,000 after buying an additional 1,556 shares during the period. Headlands Technologies LLC bought a new position in shares of Evolent Health during the 1st quarter worth approximately $46,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Evolent Health during the 2nd quarter worth approximately $61,000.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Evolent Health in a report on Tuesday. JMP Securities cut their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating on the stock in a research report on Friday, August 9th. Barclays lowered their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Citigroup cut their price objective on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $38.00 to $16.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $29.50.

Evolent Health Trading Down 2.3 %

Shares of Evolent Health stock traded down $0.29 during midday trading on Friday, reaching $12.38. The company had a trading volume of 3,124,667 shares, compared to its average volume of 1,772,071. The stock has a fifty day moving average price of $25.11 and a 200 day moving average price of $24.32. Evolent Health has a fifty-two week low of $12.18 and a fifty-two week high of $35.00. The firm has a market cap of $1.44 billion, a PE ratio of -13.60 and a beta of 1.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.08.

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.