Hood River Capital Management LLC Sells 589,585 Shares of Evolent Health, Inc. (NYSE:EVH)

Hood River Capital Management LLC lowered its position in shares of Evolent Health, Inc. (NYSE:EVH) by 26.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,617,452 shares of the technology company’s stock after selling 589,585 shares during the period. Hood River Capital Management LLC owned about 1.39% of Evolent Health worth $30,926,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EVH. NBC Securities Inc. boosted its holdings in shares of Evolent Health by 16.6% during the first quarter. NBC Securities Inc. now owns 2,461 shares of the technology company’s stock worth $81,000 after purchasing an additional 350 shares during the period. Principal Financial Group Inc. lifted its holdings in Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after buying an additional 480 shares during the period. Ascent Group LLC grew its position in shares of Evolent Health by 2.8% in the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock worth $667,000 after buying an additional 550 shares during the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of Evolent Health by 6.3% during the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after buying an additional 600 shares during the period. Finally, American International Group Inc. raised its holdings in shares of Evolent Health by 1.2% during the first quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock valued at $1,817,000 after acquiring an additional 640 shares in the last quarter.

Evolent Health Stock Performance

Shares of EVH opened at $31.04 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.61 billion, a P/E ratio of -24.83 and a beta of 1.57. The business’s 50 day moving average price is $26.67 and its 200-day moving average price is $26.36. Evolent Health, Inc. has a 52 week low of $17.98 and a 52 week high of $35.00.

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

Analysts Set New Price Targets

Several research firms recently weighed in on EVH. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price target on shares of Evolent Health in a report on Monday, August 26th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday, July 30th. 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. lifted 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. Finally, JMP Securities decreased their target price on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.40.

Insider Buying and Selling

In other Evolent Health news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s 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 completion of the sale, the general counsel now directly owns 167,027 shares in the company, valued at approximately $5,211,242.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Seth Blackley sold 187,904 shares of the business’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 $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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan Weinberg sold 42,140 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $31.20, for a total value of $1,314,768.00. Following the sale, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. The disclosure for this sale can be found here. Insiders have sold a total of 307,291 shares of company stock worth $9,290,385 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.