Comerica Bank Has $69,000 Holdings in Evolent Health, Inc. (NYSE:EVH)

Comerica Bank lowered its position in shares of Evolent Health, Inc. (NYSE:EVH) by 88.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,144 shares of the technology company’s stock after selling 47,614 shares during the quarter. Comerica Bank’s holdings in Evolent Health were worth $69,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health during the fourth quarter worth $26,000. R Squared Ltd acquired a new stake in shares of Evolent Health in the fourth quarter valued at approximately $31,000. AlphaQuest LLC raised its stake in Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust raised its position in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in Evolent Health in the fourth quarter valued at about $61,000.

Evolent Health Trading Down 0.1%

EVH stock opened at $8.81 on Monday. The firm’s 50-day moving average is $9.60 and its 200 day moving average is $10.96. The company has a market capitalization of $1.03 billion, a PE ratio of -10.74 and a beta of 1.04. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. On average, research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of research reports. Canaccord Genuity Group reduced their target price on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of Evolent Health in a report on Tuesday, May 13th. Oppenheimer cut their price target on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. UBS Group upped their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Stephens dropped their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Evolent Health has a consensus rating of “Buy” and a consensus target price of $17.79.

Insider Transactions at Evolent Health

In other Evolent Health news, Director Diane Holder purchased 2,735 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now directly owns 70,584 shares in the company, valued at approximately $658,548.72. This trade represents a 4.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Seth Blackley purchased 55,225 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now owns 762,217 shares of the company’s stock, valued at approximately $6,867,575.17. This represents a 7.81% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 74,000 shares of company stock valued at $666,315. Corporate insiders own 1.40% of the company’s stock.

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.