ERn Financial LLC Sells 30,000 Shares of Evolent Health, Inc. (NYSE:EVH)

ERn Financial LLC decreased its position in Evolent Health, Inc. (NYSE:EVH) by 50.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,574 shares of the technology company’s stock after selling 30,000 shares during the quarter. ERn Financial LLC’s holdings in Evolent Health were worth $836,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new position in Evolent Health in the 2nd quarter worth $32,000. GAMMA Investing LLC increased its stake in shares of Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares during the period. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the 1st quarter worth about $46,000. Canada Pension Plan Investment Board bought a new stake in Evolent Health during the 2nd quarter valued at approximately $61,000. Finally, NBC Securities Inc. grew its holdings in Evolent Health by 16.6% in the 1st quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock valued at $81,000 after buying an additional 350 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently weighed in on EVH. JPMorgan Chase & Co. increased their price objective on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. KeyCorp started coverage on shares of Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price target on the stock. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a research report on Tuesday, July 30th. JMP Securities decreased their target price on 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. Finally, Truist Financial reiterated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Evolent Health has a consensus rating of “Moderate Buy” and a consensus target price of $39.91.

Insider Activity at Evolent Health

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the sale, the general counsel now owns 167,027 shares of the company’s stock, valued at $5,211,242.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $31.20, for a total transaction of $1,314,768.00. Following the transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 411,924 shares in the company, valued at $12,357,720. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,291 shares of company stock valued at $9,290,385 over the last ninety days. 1.60% of the stock is owned by insiders.

Evolent Health Trading Down 2.8 %

Shares of Evolent Health stock opened at $26.38 on Wednesday. Evolent Health, Inc. has a 12-month low of $17.98 and a 12-month high of $35.00. The stock has a market capitalization of $3.07 billion, a P/E ratio of -21.10 and a beta of 1.56. The company has a 50-day simple moving average of $28.62 and a 200 day simple moving average of $25.68. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $647.10 million during the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. Evolent Health’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Research analysts expect that Evolent Health, Inc. will post 0.86 earnings per share for the current fiscal year.

Evolent Health 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.