Rock Point Advisors LLC Has $9.41 Million Stake in Evolent Health, Inc. (NYSE:EVH)

Rock Point Advisors LLC grew its position in shares of Evolent Health, Inc. (NYSE:EVH) by 40.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 492,387 shares of the technology company’s stock after buying an additional 140,780 shares during the quarter. Evolent Health makes up about 2.8% of Rock Point Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Rock Point Advisors LLC owned 0.42% of Evolent Health worth $9,414,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. NBC Securities Inc. raised its position in Evolent Health by 16.6% in the 1st 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 position in shares of Evolent Health by 3.2% during the second quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after acquiring an additional 480 shares during the last quarter. HMS Capital Management LLC boosted its holdings in Evolent Health by 7.8% in the first quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company’s stock valued at $243,000 after acquiring an additional 538 shares during the last quarter. Ascent Group LLC boosted its holdings in Evolent Health by 2.8% in the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after acquiring an additional 550 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its position in Evolent Health by 6.3% in the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock worth $195,000 after purchasing an additional 600 shares during the period.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Emily Ann Rafferty sold 8,861 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 value of $265,830.00. Following the completion of the sale, the chief operating officer now directly owns 63,408 shares in the company, valued at $1,902,240. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Seth Blackley sold 187,904 shares of the firm’s stock in a transaction 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 approximately $12,357,720. The disclosure for this sale can be found here. In the last 90 days, insiders sold 307,291 shares of company stock worth $9,290,385. 1.60% of the stock is owned by insiders.

Evolent Health Stock Down 0.1 %

Shares of EVH stock opened at $30.11 on Friday. The firm has a market capitalization of $3.50 billion, a P/E ratio of -24.09 and a beta of 1.57. The firm’s fifty day moving average price is $25.54 and its two-hundred day moving average price is $26.53. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Evolent Health, Inc. has a 1 year low of $17.98 and a 1 year high of $35.00.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analyst estimates of $636.46 million. Evolent Health had a positive return on equity of 8.47% and a negative net margin of 3.16%. The business’s quarterly revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. On average, equities analysts predict that Evolent Health, Inc. will post 0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on EVH. JMP Securities lowered their price target on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. Truist Financial reissued a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. JPMorgan Chase & Co. upped their price target on Evolent Health from $36.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.40.

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.