564,057 Shares in Evolent Health, Inc (EVH) Purchased by Castleark Management LLC
Castleark Management LLC purchased a new stake in shares of Evolent Health, Inc (NYSE:EVH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 564,057 shares of the technology company’s stock, valued at approximately $14,299,000. Castleark Management LLC owned approximately 0.86% of Evolent Health at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Evolent Health by 7.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,438,126 shares of the technology company’s stock valued at $137,857,000 after purchasing an additional 379,185 shares in the last quarter. Swiss National Bank increased its stake in Evolent Health by 51.7% during the 1st quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock valued at $1,360,000 after purchasing an additional 20,800 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Evolent Health by 6.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 387,000 shares of the technology company’s stock valued at $9,810,000 after purchasing an additional 25,000 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Evolent Health during the 2nd quarter valued at approximately $363,000. Finally, American Century Companies Inc. increased its stake in Evolent Health by 78.4% during the 2nd quarter. American Century Companies Inc. now owns 289,226 shares of the technology company’s stock valued at $7,332,000 after purchasing an additional 127,110 shares in the last quarter. Institutional investors and hedge funds own 82.51% of the company’s stock.
In other news, CEO Steve Wigginton sold 6,000 shares of Evolent Health stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $24.64, for a total value of $147,840.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Frank J. Williams sold 16,300 shares of Evolent Health stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total transaction of $386,799.00. The disclosure for this sale can be found here. Insiders sold a total of 62,840 shares of company stock worth $1,588,679 over the last ninety days. Corporate insiders own 8.79% of the company’s stock.
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Evolent Health (NYSE:EVH) last announced its earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting analysts’ consensus estimates of ($0.13). The business had revenue of $107.30 million for the quarter, compared to analysts’ expectations of $104.45 million. Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.44%. The company’s quarterly revenue was up 89.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.20) EPS.
EVH has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $28.00 price target on shares of Evolent Health in a research note on Wednesday, September 6th. KeyCorp initiated coverage on shares of Evolent Health in a research note on Tuesday, September 19th. They set an “overweight” rating and a $23.00 price target on the stock. Robert W. Baird restated an “outperform” rating and set a $25.00 price target (down previously from $35.00) on shares of Evolent Health in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Cowen and Company restated an “outperform” rating and set a $35.00 price target on shares of Evolent Health in a research note on Wednesday, June 28th. Finally, BidaskClub lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.45.
About Evolent Health
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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