GAMMA Investing LLC Purchases 1,556 Shares of Evolent Health, Inc. (NYSE:EVH)

GAMMA Investing LLC increased its position in Evolent Health, Inc. (NYSE:EVH) by 5,365.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,585 shares of the technology company’s stock after purchasing an additional 1,556 shares during the quarter. GAMMA Investing LLC’s holdings in Evolent Health were worth $45,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. NBC Securities Inc. boosted its holdings in 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 last quarter. Principal Financial Group Inc. raised its stake in Evolent Health by 3.2% in the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock valued at $298,000 after buying an additional 480 shares during the period. Ascent Group LLC lifted its holdings in Evolent Health by 2.8% during the 1st quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after purchasing an additional 550 shares during the last quarter. SeaCrest Wealth Management LLC lifted its stake in shares of Evolent Health by 6.3% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after buying an additional 600 shares during the last quarter. Finally, American International Group Inc. boosted 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 worth $1,817,000 after acquiring an additional 640 shares during the period.

Insider Buying and Selling

In other Evolent Health news, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Jonathan Weinberg sold 42,140 shares of the business’s 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 completion of the transaction, the general counsel now directly owns 167,027 shares in the company, valued at $5,211,242.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Seth Blackley sold 187,904 shares of the 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. This represents a 0.00 % decrease in their position. 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 90 days. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on EVH. Stephens reissued an “overweight” rating and issued a $42.00 target price on shares of Evolent Health in a report on Tuesday, July 30th. KeyCorp started coverage on Evolent Health in a research note on Friday, October 11th. They set an “overweight” rating and a $35.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of Evolent Health in a research report on Tuesday, October 8th. JMP Securities dropped their price target 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. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $39.30.

Evolent Health Price Performance

EVH stock opened at $24.96 on Friday. The firm has a market capitalization of $2.90 billion, a P/E ratio of -19.97 and a beta of 1.56. Evolent Health, Inc. has a 52 week low of $17.98 and a 52 week high of $35.00. 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 company has a fifty day simple moving average of $28.82 and a two-hundred day simple moving average of $25.68.

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

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.