937,628 Shares in Evolent Health, Inc $EVH Purchased by Castle Hook Partners LP

Castle Hook Partners LP acquired a new position in shares of Evolent Health, Inc (NYSE:EVH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 937,628 shares of the technology company’s stock, valued at approximately $3,751,000. Castle Hook Partners LP owned approximately 0.84% of Evolent Health as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in Evolent Health in the 4th quarter worth about $3,927,000. Eventide Asset Management LLC increased its stake in Evolent Health by 54.0% in the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock worth $53,246,000 after acquiring an additional 2,205,659 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Evolent Health by 174.4% in the 3rd quarter. Tudor Investment Corp ET AL now owns 689,262 shares of the technology company’s stock worth $5,831,000 after acquiring an additional 438,095 shares during the last quarter. Rock Point Advisors LLC increased its stake in Evolent Health by 21.6% in the 4th quarter. Rock Point Advisors LLC now owns 1,190,156 shares of the technology company’s stock worth $4,761,000 after acquiring an additional 211,707 shares during the last quarter. Finally, Tejara Capital Ltd bought a new position in Evolent Health in the 4th quarter worth about $5,326,000.

Evolent Health Price Performance

EVH opened at $4.70 on Thursday. The stock’s 50 day simple moving average is $3.73 and its 200 day simple moving average is $3.50. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.32 and a quick ratio of 1.32. Evolent Health, Inc has a 1 year low of $2.10 and a 1 year high of $12.06. The firm has a market cap of $528.32 million, a price-to-earnings ratio of -0.99 and a beta of 0.84.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The business had revenue of $496.25 million for the quarter, compared to analyst estimates of $534.00 million. During the same period last year, the company earned $0.06 EPS. Evolent Health’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that Evolent Health, Inc will post -0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on EVH shares. Truist Financial upped their target price on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, June 12th. BTIG Research decreased their target price on Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Wall Street Zen upgraded Evolent Health from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. BMO Capital Markets reiterated an “outperform” rating and set a $3.50 price objective on shares of Evolent Health in a research report on Wednesday, February 25th. Finally, Needham & Company LLC increased their price objective on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.08.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.