Evolent Health Sees Unusually High Options Volume (NYSE:EVH)

Evolent Health Inc (NYSE:EVH) was the target of some unusual options trading activity on Thursday. Stock investors purchased 1,830 put options on the stock. This represents an increase of 1,826% compared to the typical volume of 95 put options.

Several equities research analysts recently issued reports on the stock. ValuEngine upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Jaffray Companies set a $10.00 target price on shares of Evolent Health and gave the company a “buy” rating in a research note on Tuesday. Cantor Fitzgerald set a $16.00 target price on shares of Evolent Health and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Zacks Investment Research cut shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Cowen set a $18.00 price target on shares of Evolent Health and gave the company a “buy” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $20.33.

In other news, CFO Doug S. Aron bought 10,550 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $8.20 per share, for a total transaction of $86,510.00. Also, Director Michael D’amato bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average price of $7.03 per share, with a total value of $105,450.00. The disclosure for this purchase can be found here. Insiders purchased a total of 32,750 shares of company stock valued at $242,648 over the last quarter. 4.50% of the stock is currently owned by company insiders.



Institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP increased its holdings in shares of Evolent Health by 297.7% during the first quarter. Royce & Associates LP now owns 421,600 shares of the technology company’s stock worth $5,304,000 after purchasing an additional 315,600 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Evolent Health by 94.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock worth $95,000 after purchasing an additional 5,856 shares during the period. Conestoga Capital Advisors LLC increased its holdings in shares of Evolent Health by 36.2% during the second quarter. Conestoga Capital Advisors LLC now owns 30,390 shares of the technology company’s stock worth $242,000 after purchasing an additional 8,070 shares during the period. Aperio Group LLC bought a new position in shares of Evolent Health during the second quarter worth approximately $40,000. Finally, Gabelli Funds LLC increased its holdings in shares of Evolent Health by 13.5% during the second quarter. Gabelli Funds LLC now owns 1,031,000 shares of the technology company’s stock worth $8,196,000 after purchasing an additional 122,500 shares during the period. 94.25% of the stock is currently owned by institutional investors.

Evolent Health stock traded up $0.33 during trading hours on Friday, hitting $7.35. The company had a trading volume of 1,315,265 shares, compared to its average volume of 1,428,743. The firm has a market cap of $672.76 million, a PE ratio of -21.00 and a beta of 1.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.39 and a quick ratio of 1.39. Evolent Health has a one year low of $5.50 and a one year high of $29.05. The firm has a 50-day moving average of $6.92 and a 200 day moving average of $10.34.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. The firm had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $192.51 million. Evolent Health had a negative net margin of 14.67% and a negative return on equity of 6.47%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. As a group, research analysts expect that Evolent Health will post -0.96 earnings per share for the current year.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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