Hollencrest Capital Management Buys Shares of 95,325 Evolent Health, Inc. (NYSE:EVH)

Hollencrest Capital Management bought a new position in Evolent Health, Inc. (NYSE:EVH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 95,325 shares of the technology company’s stock, valued at approximately $1,823,000. Hollencrest Capital Management owned approximately 0.08% of Evolent Health as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Scout Investments Inc. bought a new position in shares of Evolent Health during the 1st quarter worth approximately $5,760,000. Zevenbergen Capital Investments LLC increased its position in shares of Evolent Health by 126.5% during the first quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after purchasing an additional 315,875 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Evolent Health by 86.7% during the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company’s stock valued at $3,250,000 after purchasing an additional 46,024 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock worth $23,522,000 after purchasing an additional 75,376 shares in the last quarter. Finally, Norges Bank purchased a new position in Evolent Health during the 4th quarter worth $43,759,000.

Insiders Place Their Bets

In other news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 $12,357,720. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Seth Blackley sold 187,904 shares of the 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 completion of the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO John Paul Johnson sold 44,693 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $1,340,790.00. Following the transaction, the chief financial officer now owns 171,207 shares in the company, valued at $5,136,210. The disclosure for this sale can be found here. In the last three months, insiders sold 307,291 shares of company stock worth $9,290,385. Corporate insiders own 1.60% of the company’s stock.

Evolent Health Stock Performance

NYSE EVH opened at $30.81 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -24.65 and a beta of 1.57. The stock has a 50-day moving average of $26.22 and a 200 day moving average of $26.46. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health, Inc. has a twelve month low of $17.98 and a twelve month high of $35.00.

Evolent Health (NYSE:EVH) last released its quarterly 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 firm had revenue of $647.10 million for 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%. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. Sell-side analysts anticipate that Evolent Health, Inc. will post 0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EVH has been the subject of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and set a $33.00 price target on shares of Evolent Health in a research note on Tuesday, August 27th. JMP Securities lowered their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research note on Monday, August 26th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.40.

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.