Entropy Technologies LP Takes $319,000 Position in Evolent Health, Inc. (NYSE:EVH)

Entropy Technologies LP bought a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the third quarter, HoldingsChannel reports. The institutional investor bought 11,283 shares of the technology company’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EVH. RA Capital Management L.P. grew its stake in shares of Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after purchasing an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares in the last quarter. First Light Asset Management LLC increased its holdings in shares of Evolent Health by 401.5% in the second quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after buying an additional 1,157,124 shares in the last quarter. Engaged Capital LLC lifted its position in shares of Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after acquiring an additional 850,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Evolent Health by 24.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock worth $39,164,000 after acquiring an additional 406,837 shares in the last quarter.

Evolent Health Trading Down 2.3 %

Evolent Health stock opened at $12.38 on Friday. Evolent Health, Inc. has a 12 month low of $12.18 and a 12 month high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.44 billion, a P/E ratio of -13.60 and a beta of 1.58. The company’s fifty day simple moving average is $25.11 and its 200-day simple moving average is $24.32.

Insider Activity at Evolent Health

In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the firm’s stock in a transaction that occurred on 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 transaction, the general counsel now owns 167,027 shares of the company’s stock, valued at approximately $5,211,242.40. This trade represents a 20.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seth Blackley sold 187,904 shares of Evolent Health stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $5,637,120.00. Following the completion of the sale, the chief executive officer now owns 411,924 shares of the company’s stock, valued at $12,357,720. This trade represents a 31.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 307,291 shares of company stock valued at $9,290,385. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

EVH has been the topic of a number of recent analyst reports. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Citigroup reduced their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Barclays reduced their price target on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, KeyCorp began coverage on shares of Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $29.50.

Evolent Health Company 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.