Gamco Investors INC. ET AL Cuts Position in Evolent Health, Inc $EVH

Gamco Investors INC. ET AL decreased its position in Evolent Health, Inc (NYSE:EVH) by 49.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,500 shares of the technology company’s stock after selling 288,000 shares during the quarter. Gamco Investors INC. ET AL owned 0.26% of Evolent Health worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after acquiring an additional 3,572 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Evolent Health by 4,000.0% in the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares during the last quarter. Strs Ohio bought a new stake in Evolent Health in the first quarter worth $47,000. Headlands Technologies LLC purchased a new stake in Evolent Health during the second quarter valued at $58,000. Finally, Osaic Holdings Inc. raised its stake in Evolent Health by 99.2% during the second quarter. Osaic Holdings Inc. now owns 11,119 shares of the technology company’s stock valued at $125,000 after purchasing an additional 5,537 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 21st. Truist Financial cut shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a research report on Tuesday, June 30th. TD Cowen lowered their price target on shares of Evolent Health from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Canaccord Genuity Group lifted their price target on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Citigroup reissued a “sell” rating and set a $6.75 price objective (up from $5.50) on shares of Evolent Health in a research note on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.16.

Evolent Health Price Performance

Shares of EVH stock opened at $3.29 on Thursday. Evolent Health, Inc has a 52-week low of $2.10 and a 52-week high of $10.30. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $370.62 million, a P/E ratio of -0.69 and a beta of 0.76. The stock has a 50 day moving average price of $4.83 and a 200 day moving average price of $3.75.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. During the same quarter in the previous year, the business earned $0.06 EPS. Evolent Health’s revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Evolent Health, Inc will post -0.16 earnings per share for the current year.

About Evolent Health

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.