Silvercrest Asset Management Group LLC Buys 372,793 Shares of Evolent Health, Inc. (NYSE:EVH)

Silvercrest Asset Management Group LLC grew its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 37.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,371,053 shares of the technology company’s stock after buying an additional 372,793 shares during the period. Silvercrest Asset Management Group LLC owned approximately 1.18% of Evolent Health worth $15,424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Evolent Health during the fourth quarter worth about $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health during the fourth quarter worth about $31,000. AlphaQuest LLC raised its position in shares of Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after purchasing an additional 3,031 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock worth $56,000 after purchasing an additional 2,358 shares during the period. Finally, AlphaCentric Advisors LLC acquired a new stake in shares of Evolent Health during the fourth quarter worth about $61,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Truist Financial dropped their price target on Evolent Health from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Evolent Health in a research report on Tuesday, May 13th. Canaccord Genuity Group dropped their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health presently has an average rating of “Buy” and a consensus target price of $17.79.

Insider Activity at Evolent Health

In other news, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the purchase, the chief executive officer now directly owns 762,217 shares of the company’s stock, valued at $6,867,575.17. This trade represents a 7.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now directly owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 74,000 shares of company stock worth $666,315 in the last ninety days. 1.40% of the stock is owned by company insiders.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $8.81 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63. The stock has a 50 day moving average of $9.60 and a 200-day moving average of $11.05. The company has a market capitalization of $1.03 billion, a P/E ratio of -10.74 and a beta of 1.04.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business’s revenue was down 24.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, equities research analysts predict that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.