Hollencrest Capital Management Grows Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Hollencrest Capital Management raised its position in shares of Evolent Health, Inc. (NYSE:EVH) by 26.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,000 shares of the technology company’s stock after buying an additional 7,500 shares during the quarter. Hollencrest Capital Management’s holdings in Evolent Health were worth $405,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Evolent Health during the fourth quarter valued at about $31,000. AlphaQuest LLC increased its holdings in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after acquiring an additional 3,031 shares in the last quarter. Covestor Ltd increased its holdings in shares of Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after acquiring an additional 826 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after acquiring an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Evolent Health during the fourth quarter valued at about $61,000.

Insider Transactions at Evolent Health

In other Evolent Health news, CEO Seth Blackley bought 55,225 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, for a total transaction of $497,577.25. Following the transaction, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Diane Holder bought 2,735 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now directly owns 70,584 shares in the company, valued at approximately $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 have bought 74,000 shares of company stock valued at $666,315 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on EVH. Stephens cut their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Truist Financial cut their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada cut their price target on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.71.

Evolent Health Price Performance

Shares of NYSE EVH opened at $9.49 on Thursday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -11.57 and a beta of 1.49. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $34.07. The firm’s 50 day simple moving average is $10.26 and its 200-day simple moving average is $17.23. 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) last issued its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Analysts expect 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.