Citizens Financial Group Inc. RI Takes $177,000 Position in Evolent Health, Inc. (NYSE:EVH)

Citizens Financial Group Inc. RI purchased a new stake in Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, Holdings Channel.com reports. The fund purchased 15,732 shares of the technology company’s stock, valued at approximately $177,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. lifted its holdings in shares of Evolent Health by 28.0% during the fourth quarter. Johnson Investment Counsel Inc. now owns 11,607 shares of the technology company’s stock worth $131,000 after purchasing an additional 2,542 shares during the period. AlphaQuest LLC lifted its stake in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock worth $34,000 after acquiring an additional 3,031 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Evolent Health in the fourth quarter valued at about $1,995,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of Evolent Health during the fourth quarter worth about $1,713,000. Finally, Raymond James Financial Inc. purchased a new position in Evolent Health during the fourth quarter worth about $2,542,000.

Insider Activity

In other Evolent Health news, CEO Seth Blackley purchased 55,225 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now owns 762,217 shares in the company, valued at approximately $6,867,575.17. This represents a 7.81 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Daniel Joseph Mccarthy purchased 11,040 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $99,470.40. Following the acquisition, the president now directly owns 389,004 shares in the company, valued at $3,504,926.04. This trade represents a 2.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 74,000 shares of company stock valued at $666,315 over the last 90 days. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

EVH has been the subject of a number of analyst reports. Canaccord Genuity Group cut their target price on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Citigroup cut their price objective on Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Piper Sandler restated an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. Finally, Oppenheimer decreased their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Evolent Health currently has an average rating of “Buy” and a consensus price target of $17.71.

Evolent Health Stock Performance

NYSE EVH opened at $9.44 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The business has a fifty day moving average of $10.22 and a 200-day moving average of $17.17. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -11.51 and a beta of 1.49.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Evolent Health Company Profile

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.