Peregrine Capital Management LLC Decreases Position in Evolent Health Inc (NYSE:EVH)

Peregrine Capital Management LLC cut its stake in Evolent Health Inc (NYSE:EVH) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,189,119 shares of the technology company’s stock after selling 341,644 shares during the quarter. Peregrine Capital Management LLC’s holdings in Evolent Health were worth $10,762,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in Evolent Health in the 2nd quarter valued at about $472,000. Charles Schwab Investment Management Inc. raised its holdings in Evolent Health by 6.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 428,096 shares of the technology company’s stock valued at $3,404,000 after acquiring an additional 24,661 shares during the last quarter. Northern Trust Corp raised its holdings in Evolent Health by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,017,149 shares of the technology company’s stock valued at $8,086,000 after acquiring an additional 9,393 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in Evolent Health in the 2nd quarter valued at about $80,000. Finally, US Bancorp DE raised its holdings in Evolent Health by 94.5% in the 2nd quarter. US Bancorp DE now owns 94,813 shares of the technology company’s stock valued at $754,000 after acquiring an additional 46,055 shares during the last quarter. 99.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE EVH opened at $11.06 on Friday. The company has a 50 day simple moving average of $8.45 and a 200-day simple moving average of $7.81. The company has a market capitalization of $897.70 million, a P/E ratio of -31.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.19 and a quick ratio of 1.19. Evolent Health Inc has a 1 year low of $5.50 and a 1 year high of $19.13.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.03. The business had revenue of $220.14 million during the quarter, compared to the consensus estimate of $217.90 million. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. The business’s revenue was up 46.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.04) EPS. As a group, research analysts expect that Evolent Health Inc will post -0.95 EPS for the current year.

In related news, President Seth Blackley bought 14,749 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was purchased at an average price of $6.68 per share, for a total transaction of $98,523.32. 4.50% of the stock is currently owned by company insiders.

A number of analysts have commented on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $10.00 price objective on shares of Evolent Health in a report on Monday, December 30th. Zacks Investment Research downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co cut their price objective on shares of Evolent Health from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Piper Jaffray Companies reiterated a “buy” rating and issued a $10.15 price objective on shares of Evolent Health in a report on Wednesday, December 18th. Finally, KeyCorp cut their price objective on shares of Evolent Health from $20.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, December 2nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.74.

About Evolent Health

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.

See Also: What is a back-end load?

Want to see what other hedge funds are holding EVH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolent Health Inc (NYSE:EVH).

Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.