Tudor Investment Corp ET AL Increases Holdings in Evolent Health, Inc $EVH

Tudor Investment Corp ET AL increased its position in shares of Evolent Health, Inc (NYSE:EVH) by 174.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 689,262 shares of the technology company’s stock after purchasing an additional 438,095 shares during the quarter. Tudor Investment Corp ET AL owned 0.62% of Evolent Health worth $5,831,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC Private Wealth Group LLC lifted its stake in Evolent Health by 4,000.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock valued at $35,000 after acquiring an additional 4,000 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Evolent Health during the third quarter valued at $106,000. Jacobs Levy Equity Management Inc. grew its position in Evolent Health by 164.1% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,773,818 shares of the technology company’s stock worth $15,006,000 after purchasing an additional 1,102,264 shares during the period. Caxton Associates LLP acquired a new stake in Evolent Health during the 3rd quarter worth about $93,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Evolent Health during the 3rd quarter valued at about $693,000.

Evolent Health Stock Down 9.0%

Shares of NYSE EVH opened at $2.27 on Wednesday. The firm has a market cap of $252.86 million, a price-to-earnings ratio of -0.44 and a beta of 0.24. The company’s 50-day simple moving average is $3.13 and its 200-day simple moving average is $4.99. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34. Evolent Health, Inc has a 52-week low of $2.25 and a 52-week high of $12.06.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The firm had revenue of $468.72 million during the quarter, compared to the consensus estimate of $468.48 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was down 27.5% on a year-over-year basis. Equities analysts predict that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

EVH has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on Evolent Health from $5.00 to $3.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 25th. Needham & Company LLC lowered their price objective on Evolent Health from $15.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research note on Monday, December 29th. Oppenheimer lowered their price target on shares of Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Finally, TD Cowen restated a “buy” rating on shares of Evolent Health in a research report on Monday, March 2nd. Thirteen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.04.

Evolent Health 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.