Kornitzer Capital Management Inc. KS increased the percentage of Evolent Health, Inc. (NYSE: EVH) shares that it owns by 6.8% during the third quarter, as stated in the company’s most recent filing with the SEC. During the quarter, the investment fund purchased an additional 36,221 shares of the technology company’s stock, bringing the total number of shares it possesses in its portfolio to 572,306. The most recent filing that Kornitzer Capital Management Inc. (KS) has made with the SEC indicates that they own 0.62% of Evolent Health, which is currently valued at $20,563,000.
Recent transactions have caused adjustments to the proportion of the company’s stock that hedge funds and other institutional investors hold. These investors include pension funds, endowments, and foundations. PDT Partners LLC achieved a 78.1% increase in the size of its holdings in Evolent Health over the second quarter. PDT Partners LLC now holds 55,701 technology company stock shares following the acquisition of an additional 24,424 shares during the most recent quarter. Each share of the company’s stock is currently valued at $1,711,000. During the second quarter of the current fiscal year, Eagle Asset Management Inc. increased the percentage of capital it had invested in Evolent Health by 29.6 percent. After making an additional purchase of 284,084 shares during the most recent fiscal quarter, Eagle Asset Management Inc. now owns a total of 1,244,722 shares of the technology company’s stock, which have a combined value of $38,225,000. This brings the total number of shares owned by the company to 1,244,722. During the second quarter, Occudo Quantitative Strategies LP was able to amass an additional 37.6% of the total number of shares of Evolent Health’s common stock. Ocado Quantitative Strategies LP now has a total of 90,055 shares of the technology company’s stock, which are currently valued at $2,766,000 following the purchase of an additional 24,594 shares during the most recent quarter. During the second quarter, Jackson Creek Investment Advisors LLC invested $115,000 in purchasing additional holdings in Evolent Health. In the second quarter, McKinley Capital Management LLC of Delaware invested $3,682,000 into Evolent Health to acquire a new investment in the company. The outstanding shares of the company are currently owned by institutional investors and hedge funds to the tune of 93.33%.
Recent fluctuations in EVH shares price have drawn several equity analysts’ attention. In a report published on Friday, November 18, Cowen reaffirmed their “outperform” rating for Evolent Health while also increasing their price objective for the stock from $52.00 to $57.00. In a research report published on November 3, Canaccord Genuity Group announced that the price target they set for Evolent Health shares has decreased from $48.00 to $44.00. Trust Financial announced in a research note published on November 17 that they were lowering their price objective on Evolent Health stock to $32.00. Canaccord Genuity Group gave Evolent Health a “buy” rating and decreased their target price on Evolent Health shares from $55.00 to $48:00 in a research report released on Wednesday, October 12. The report was published on the company’s website. The report made a recommendation to “buy” the company. According to a research note released on Friday, January 6, the price objective that Piper Sandler has placed on Evolent Health shares has increased from $44.00 to $51.00. Piper Sandler provided this information. The company’s stock has been assigned a buy rating by nine of the ten equity research analysts who have evaluated it, a hold rating by one of the analysts, and a sell rating by one of the experts. According to Bloomberg, the average current recommendation for the stock is a “Moderate Buy,” and the price objective has been established at $47.50.
On Tuesday, January 3, one of the directors of Evolent Health, Frank J. Williams, sold 110,000 shares of the company’s stock. This is just one of the latest developments concerning this topic. The price received for each share was an average of $27.15, and the total amount received from the sale of the stock was $2,986,500.00. The director is now the direct owner of 626,479 shares of the company, which have a value of $17,008,904.85, as a result of the successful completion of the transaction. One can find a copy of the case file in which the transaction was disclosed on the Securities and Exchange Commission (SEC) website. The file contains information about the transaction. In addition, on January 3, director Frank J. Williams sold 110,000 shares of Evolent Health stock. The price received for each share was an average of $27.15, and the total amount received from the sale of the stock was $2,986,500.00. The director now has a personal holding of 626,479 shares of the company, which have a value of $17,008,904.85, as a direct result of the transaction. Clicking on the link provided in the previous sentence will take you to a page where you can read the legal documents sent to the Securities and Exchange Commission regarding the transaction. In addition, on November 21, 2007, 75,000 shares of the company’s stock were sold by Seth Blackley, who is the Chief Executive Officer of the company. A total of $2,009,250.00 was received for the sale of the shares, which works out to an average price of $26.79 per share. After the completion of the sale, the Chief Executive Officer now directly owns a total of 422,037 shares of the company’s stock, which have a value of $11,306,371.23. Disclosures that are related to the sale might be found in this section of the website. Corporate insiders have sold a total of 405,000 shares of company stock over the past ninety days, resulting in a total revenue of $11,333,950. 4.20 individuals employed by the corporation hold a percent of the total number of shares in the company.
During trading on Friday, EVH gained $0.24 in price, moving up to $30.79 per share. Comparatively, only 5,627 shares of the company’s stock were traded, significantly less than the usual volume of 1,384,888 shares. The price-to-earnings ratio of the company’s stock, which is -203.65, and its beta value, which is 1.56, are extremely low. The total value of the company’s stock on the market is estimated to be $3.12 billion. Evolent Health, Inc. hit a low of $21.36 over the past year, while the company reached a high of $39.78 over the same period. The debt-to-equity ratio is calculated to be 0.48, the quick ratio is calculated to be 1.03, and the current ratio is also calculated to be 1.03 when taken as a whole. The stock’s moving average over the past 50 days is $27.60, and its moving average over the past 200 days is $31.65.
On November 2, the most recent earnings report for Evolent Health was made public. Evolent Health is a company that trades on the New York Stock Exchange (NYSE) under the symbol EVH. The information technology company reported a profit of $0.52 per share for the quarter’s final business day. In contrast to the consensus forecast of $354.57 million, the company’s most recent quarter’s sales came in at $352.59 million. This was the company’s most recent reporting period. In the case of Evolent Health, both the net margin and the equity return were on the losing end. The return on equity was 8.83%, while the net margin came in at -1.11%. Analysts on the sell side anticipate that Evolent Health, Inc. will produce $0.61 per share earnings during the current fiscal year.
Through its subsidiary, Evolent Health, LLC, the healthcare provider Evolent Health, Inc. offers clinical and administrative solutions to payers and providers in the United States of America. The business is organized into two distinct branches: the Evolent Health Services Division and the Clinical Solutions Branch. Evolent Health Services makes available a comprehensive administrative and clinical platform that can be used for managing population health and administering health plans. This platform can be utilized for either of these purposes.
